MinebeaMitsumi Inc. announces an Equity Buyback for 3,000,000 shares, representing 0.74% for ¥10,000 million.
August 04, 2021 at 02:00 am EDT
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MinebeaMitsumi Inc. (TSE:6479) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 common shares, representing 0.74% of its issued and outstanding shares, for total worth of ¥10,000 million. The purpose of the plan is to improve return on shareholders and improve capital efficiency and to implement agile capital policy according to the business environment. The plan will be valid up to October 29, 2021. As of June 30, 2021, the company had 406,025,921 shares issued and outstanding and 21,054,685 shares in its treasury.
MinebeaMitsumi Inc. is one of the world's leaders of design, manufacturing and marketing of high precision equipments and components for telecommunications, aviation, automotive industry and electronic sectors. Net sales break down by family of products as follows:
- semiconductors, optical devices, mechanical and electrical components (38.2%);
- electronic devices and components (33%): lighting devices for LCD screens, hard disk drives, special devices, etc.;
- machined components (15.8%) : ball bearings, pivots, spherical bearings, fasteners, couplers, magnetic brakes, etc.;
- automotive, industrial machinery and building components (12.9%);
- other (0.1%).
MINEBEAMITSUMI INC. 
