Nachi-Fujikoshi Corp. announces an Equity Buyback for 715,000 shares, for ¥3,292.58 million.
February 19, 2021 at 02:45 am EST
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Nachi-Fujikoshi Corp. (TSE:6474) announces a share repurchase program. Under the program, the company will repurchase up to 715,000 shares, representing 2.88% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,292.58 million. The shares will be repurchased at a price ¥4,605 per share. The purpose of the program is to carry out agile capital policy in response to changes in the business environment. The program will be valid till February 22, 2021. As of January 31, 2021, the company had 24,824,010 issued shares (excluding treasury stock) and 95,333 treasury shares.
NACHI-FUJIKOSHI CORP. is a Japan-based engaged in the manufacture and sale of machine tools, robots, bearings and special steel. The Company operates in three business segments. Machine Tool segment manufactures and sells tools, machine tools and robots. Parts segment manufactures and sells bearings and hydraulic equipment. Others segment is involved in the manufacture and sale of special steel and industrial furnaces, as well as the provision of transportation and information processing related services. Regarding the domestic sales channel, the Company sells its products to large customers such as automobile manufacturers and sales routes for small and medium-sized customers, and through domestic sales affiliates to customers in specific regions and areas. Regarding the overseas sales channel, the Company sells its products through local sales subsidiaries.
NACHI-FUJIKOSHI CORP. 
