Morinaga&Co., Ltd. announces an Equity Buyback for 700,000 shares, representing 1.52% for ¥4,550 million.
November 10, 2023 at 01:00 am EST
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Morinaga&Co., Ltd. (TSE:2201) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.52% of its share capital (excluding treasury shares), for ¥4,550 million. The company will repurchase its shares in order to enhance returns to shareholders and improve capital efficiency.
The program will expire on November 17, 2023. As of September 30, 2023, the company had 45,942,959 shares outstanding (excluding treasury shares) and 1,016,810 shares in treasury.
Morinaga & Co., Ltd. is a Japan-based company mainly engaged in food manufacturing, food wholesale, real estate and services etc. The Company operates in three segments. The Food Manufacturing segment is engaged in manufacturing of confectionaries, foods, frozen desserts, jelly drinks, etc. The Food Wholesale segment is engaged in wholesales of commercial food. The Real Estate and Services segment is engaged in real estate rental business and management of golf courses. Other business involves in the financial services and other activities.