Nippon Denko Co., Ltd. announces an Equity Buyback for 15,000,000 shares, representing 10.21% for ¥4,000 million.
November 08, 2022 at 01:00 am EST
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Nippon Denko Co., Ltd. (TSE:5563) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 10.21% of its share capital, for ¥4,000 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and implement a flexible capital policy that responds to changes in the business environment.
The program will expire on March 24, 2022. As of September 30, 2022, the company had 146,920,277 shares in issue (excluding treasury stock) and 11,290 shares in treasury.
Nippon Denko Co., Ltd. is mainly engaged in the manufacture of ferro-alloy products, functional materials and environmental systems. The Company operates in four segments. The Ferro-alloy segment manufactures and sells ferromanganese, silicon manganese, ferrochromium, ferrosilicon, ferrovanadium and other special metal products, as well as the sale of manganese ore. The Functional Materials segment offers ferro-boron, chromium metals, zirconium oxide and lithium-ion secondary battery materials, among others. The Environmental System segment is involved in the collection of chromium acid, boric acid, nickel and others, and the water supply business. The Others segment is involved in the sale of industrial chemicals, metal products and precious metal compounds, the manufacture and sale of analyzers and aluminum electrode foils for the steel industry, and electrode foils, the processing and sale of plastic, and the recycling and sale of concrete wastes.
NIPPON DENKO CO., LTD. 
