Kondotec Inc. announces an Equity Buyback for 1,000,000 shares, representing 3.81% for ?900 million.
November 09, 2021 at 12:00 am EST
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Kondotec Inc. (TSE:7438) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 3.81% of its issued share capital (excluding treasury stock), for ?900 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and enable flexible execution of capital policies according to the business environment. The repurchased shares will be cancelled. The program will run until October 31, 2022. As of October 31, 2021, the company had 26,281,198 shares in issue (excluding treasury stock) and 863,202 shares in treasury.
KONDOTEC INC. is a Japan-based company mainly engaged in the manufacture, purchase and sale of construction materials. The Company has three business segments. The Industrial Materials segment is engaged in the manufacture, purchase and sale of civil engineering and construction materials such as roof drains, floor hatches, suspension rings, brackets, balcony hardware, screws, turnbuckles and joint hardware, and construction equipment such as welding machines, drilling machines and concrete cutters, as well as the provision of rental services. The Steel Structure Materials segment is engaged in the manufacture, purchase and sale of construction related materials such as brace sheets for steel structure processors. The Electrical Facility Materials segment is engaged in the purchase and sale of electrical equipment such as photovoltaic battery modules, air conditioners and lighting equipment for electrical contractors and consumer electronics retailers.
KONDOTEC INC. 
