Koito Manufacturing Co., Ltd. announces an Equity Buyback for 35,000,000 shares, representing 11.37% for ¥50,000 million.
March 28, 2024 at 02:00 am EDT
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Koito Manufacturing Co., Ltd. (TSE:7276) announces a share repurchase program. Under the program, the company will repurchase up to 35,000,000 shares, representing 11.37% of its issued share capital, for ¥50,000 million. The purpose of the program is to increase corporate value through business investment aimed at sustainable growth, while at the same time enhancing the return of profits to shareholders.
The program will continue through March 24, 2025. As of December 31, 2023, the company had 307,774,519 issued shares (excluding treasury stock) and 58,653 treasury shares.
KOITO MANUFACTURING CO., LTD. is mainly engaged in the manufacture and sale of automotive lighting equipment, aircraft parts, railway vehicles parts, electrical equipment and measuring equipment. The Company mainly operates in six segments, including Japan, China, Asia, North America, Europe and Others. The Companyâs major products include light-emitting diode (LED) head lamps, discharge head lamps, headlights, sign lamps, high mount stop lamps, halogen bulbs, miniature bulbs and other lamp fittings, control equipment for rail vehicles, roads traffic signals, traffic control systems, roads and tunnels illumination lamps, facilities illumination lamps, accommodation equipment, aircraft parts, electronic parts, head lamps cleaners, sheets for aircraft and rail vehicles, as well as environment control equipment. The Company is also engaged in the development and manufacture of forward monitoring operation support systems for advanced driver-assistance systems (ADAS) through subsidiary.
KOITO MANUFACTURING CO., LTD. 
