Ichikawa Co., Ltd. announces an Equity Buyback for 200,000 shares, representing 0.83% for ¥100 million.
July 30, 2015
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Ichikawa Co., Ltd. (TSE:3513) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.83% of its total shares outstanding excluding treasury shares, for a total of ¥100 million. The company will make market repurchase of its shares.
The purpose of the repurchase program is to improve shareholder returns and to enhance capital efficiency and implement a flexible capital policy corresponding to changes in the business environment. The share repurchase program is valid until September 30, 2015. As of July 30, 2015, the company had 23,976,064 shares outstanding excluding treasury shares and had 859,694 shares in treasury.
ICHIKAWA CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of paper making products and industrial products. The Company operates through five business segments. The Paper Making Product (Japan, the Americans, Europe, and China) segment is mainly engaged in the manufacture and sale of paper making felts, paper making belts and slate felts. The Company distributes its products within the domestic market and to overseas markets, including the Americas, Europe and China. The Industrial Product segment is mainly engaged in the manufacture and sale of industrial felts and related industrial products. The Company is also engaged in the warehouse business.