Nippon Dry-Chemical Co., Ltd. announces an Equity Buyback for 50,000 shares, representing 1.39% for ¥120 million.
November 09, 2016
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Nippon Dry-Chemical Co., Ltd. (TSE:1909) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 1.39% of the outstanding shares for ¥120 million. The purpose of the program is to strengthen shareholder returns, enhance capital efficiency and implement a flexible capital policy in response to changes in the business environment. The program will run until March 10, 2017. As of September 30, 2016, the company had 3,590,594 shares outstanding and 312 shares in treasury.
Nippon Dry-Chemical CO., LTD. is engaged in the fire prevention business. The Company consists of four business segments. The Fire Prevention Equipment segment is engaged in the design and construction of fire prevention equipment for buildings, plants and vessels. It also manufactures various containers for fire prevention equipment. The Maintenance segment provides maintenance, inspection, repair and alteration work for various fire prevention equipment. The Products segment manufactures fire extinguishers, purchases a range of supplies, and sells through sales agents. The Vehicles segment manufactures customized fire trucks, and sells primarily to local governments.