Kumiai Chemical Industry Co., Ltd. announces an Equity Buyback.
December 13, 2019 at 02:00 am EST
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Kumiai Chemical Industry Co., Ltd. (TSE:4996) announces a share repurchase program. Under the program, the company will repurchase 688,639 shares, representing 0.55% of its share capital, at ¥1,035 per share for ¥712.74 million. The company will repurchase its shares following its share exchange with Rikengreen Co., Ltd. on August 31, 2019. The company will repurchase 369,495 shares, 218,284 shares, 36,080 shares and 64,780 shares from Ihara Construction Industry Co., Ltd., K.I Chemical Industry Co., Ltd., Nihon Insatsu Kogyo Co., Ltd. and Kumika Butsuryu Co.,Ltd., respectively. The sales contract conclusion date is scheduled on December 16, 2019. As of October 31, 2019, the company had 125,740,072 shares outstanding (excluding treasury shares) and 7,444,540 shares in treasury.
KUMIAI CHEMICAL INDUSTRY Co., Ltd. is a Japan-based company principally engaged in the manufacture and sale of agricultural chemicals and other chemical products. The Company operates in two business segments. Agricultural Chemicals & Agriculture-Related segment produces pesticides, such as insecticides, fungicides and herbicides, and sells them in Japan through the National Federation of Agricultural Cooperative Associations (JA ZEN-NOH). The Segment is also involved in the import and export of agricultural chemicals, the sale of greening materials, as well as the comprehensive maintenance of golf courses. Chemical Products segment manufactures and sells chlorotoluene and chloroxylene chemicals, fine chemicals, industrial chemicals, as well as polystyrene foam, among others. The Company is also involved in the rental business, power generation and selling business, construction business, printing business, logistics business, as well as information service business.
KUMIAI CHEMICAL INDUSTRY CO., LTD. 
