NHK Spring Co., Ltd. announces an Equity Buyback for 12,000,000 shares, representing 5.3% for ¥18,000 million.
February 13, 2024 at 01:30 am EST
Share
NHK Spring Co., Ltd. (TSE:5991) announces a share repurchase program. Under the program, the company will repurchase up to 12,000,000 shares, representing 5.30% of its issued share capital, for ¥18,000 million. The purpose of the program is to enhance shareholder returns and implement agile capital policies in response to changes in the business environment.
The program will be valid till February 13, 2025. As of December 31, 2023, the company has 226,520,526 issued shares (excluding treasury stock) and 17,545,618 treasury shares.
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. 
