NHK Spring Co., Ltd. announces an Equity Buyback for 1,800,000 shares, representing 0.79% for ¥1,683 million.
March 06, 2023 at 02:00 am EST
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NHK Spring Co., Ltd. (TSE:5991) announces a share repurchase program. Under the program, the company will repurchase 1,800,000 shares, representing 0.79% of its share capital, for ¥1,683 million. The shares will be repurchased at a price of ¥935 per share.
The company will repurchase its shares in order to improve capital efficiency by enhancing shareholder returns while enabling flexible execution of capital policy. The program will expire on March 7, 2023. As of December 31, 2022, the company had 228,017,520 shares outstanding (excluding treasury shares) and 16,048,624 shares in treasury.
NHK SPRING CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of suspension springs, seat products and automobile-related products. It has four business segments. The Suspension Springs segment manufactures and sells coil springs, board springs, stabilizers, torsion bars, stabilizer links, bellows, and stabilizer linkers. The Seating segment offers automobile seats, seat-related products, as well as interior equipment. The Precision Component segment offers suspensions for hard disk drives (HDDs), mechanism parts for HDDs, wire springs, lamella springs, probe units for liquid crystal and semiconductor checking, as well as precision processed goods. The Industrial Equipment segment manufactures and sells brazing goods, ceramic products, spring mechanism goods, piping support installations, parking systems, polyurethane products, security products, lighting apparatus and golf shafts and others.
NHK SPRING CO., LTD. 
