Hirose Electric Co.,Ltd. announces an Equity Buyback for 50,000 shares, representing 0.14% for ¥595 million.
February 19, 2019 at 03:00 am EST
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Hirose Electric Co.,Ltd. (TSE:6806) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 0.14% of its share capital, at ¥11,900 per share for ¥595 million. The company will repurchase its shares in order to enable the implementation a flexible capital policy in response to changes in the business environment, along with aiming to enhance shareholder returns and improve capital efficiency. As of February 19, 2019, the company had 36,512,812 shares outstanding (excluding treasury shares) and 2,000,340 shares in treasury.
Hirose Electric Co Ltd is a Japan-based company mainly engaged in manufacture and sale of multi-pole connectors, coaxial connectors, and other electronic components. The Company operates through two business segments. The Multi-Pole Connector segment is engaged in the manufacture and sale of round connectors, square connectors, and connectors for printed wiring boards. The Coaxial Connector segment is engaged in the provision of coaxial connectors and optical connectors. It is also engaged in the manufacture and sale of electronic medical devices and micro switches.