Meiji Electric Industries CO.,LTD. announces an Equity Buyback for 300,000 shares, representing 2.55% for ¥156.9 million.
December 18, 2013
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Meiji Electric Industries CO.,LTD. (JASDAQ:3388) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 2.55% of its issued share capital, at a price of ¥523 per share, for a total cost of up to ¥156.9 million. The company will make repurchases through Off-Auction Own Share Repurchase Trading.
The purpose of the plan is to implement a flexible capital policy corresponding to changes in the business environment. As of December 19, 2013, the company has 11,751,436 shares outstanding and 315,684 shares held in treasury.
MEIJI ELECTRIC INDUSTRIES CO., LTD. is mainly engaged in the sale of control equipment, industrial equipment, measuring instruments, electric power equipment and implementation instruments. The Company provides control equipment such as sequence programmable controller, operation display, image processing apparatus, sensor, relay and others; industrial equipment such as industrial robot, welding machine, power receiving and distribution equipment, air conditioning equipment, machinery and others; measuring instruments such as electronic measuring device, industrial meter, on-site measuring device, recording device, thermostatic bath and others; electric power equipment such as stabilized power supply, no power outage, electronic load device, special power supply and others; as well as implementation equipment such as chip mounter, reflow furnace, substrate inspection equipment, among others.
MEIJI ELECTRIC INDUSTRIES CO.,LTD. 
