Higashimaru Co.,Ltd. announces an Equity Buyback for 640,000 shares, representing 14.21% for ¥707.2 million.
February 21, 2019 at 02:30 am EST
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Higashimaru Co.,Ltd. (FKSE:2058) announces a share repurchase program. Under the program, the company will repurchase 640,000 shares, representing 14.21% of the outstanding shares, at ¥1,105 per share for ¥707.2 million. The purpose of the program is to improve shareholder returns and capital efficiency. As of December 31, 2018, the company had 4,505,111 shares outstanding and 240,889 shares in treasury.
HIGASHIMARU CO., LTD. is principally engaged in the manufacture and sale of formulated feeds for fish breeding. The Company operates in two business segments. The Seafood segment is engaged in the manufacture and sale of formulated feeds for fish culturing, fishery initial feed and combined feed for fish fishes, among others. The Food segment is involved in the manufacture and sale of dry noodles, instant noodles, bowl udon (Japanese wheat noodle) and sauces for noodles, as well as curry, jams and seasonings, among others.
HIGASHIMARU CO.,LTD. 
