Nippon Shokubai Co., Ltd. announces an Equity Buyback for 700,000 shares, representing 1.78% for ¥4,500 million.
November 07, 2023 at 01:00 am EST
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Nippon Shokubai Co., Ltd. (TSE:4114) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.78% of its issued share capital (excluding treasury stock), for a total purchase price of ¥4,500 million. The shares will be repurchased at a price of ¥5,654 per share.
The purpose of the program is to improve capital efficiency and implement agile capital policies in response to changes in the business environment. As of September 30, 2023, the company has 39,361,462 issued shares (excluding treasury stock) and 1,438,538 treasury shares.
NIPPON SHOKUBAI CO., LTD. is engaged in the manufacture and sale of chemicals. The Company has three business segments. The Basic Chemical segment manufactures and sells acrylic acid, acrylic acid ester, ethylene oxide, ethylene glycol, ethanolamine, and glycol ethers. The Functional Chemical segment is involved in the manufacture and sale of water-absorbing resins, medical intermediates, polymers for concrete admixtures, electronic information materials, iodine, maleic anhydrides, adhesives, resins for coating materials, resin molding products and processed adhesive products. The Environmental and Catalytic segment manufactures and sells automobile catalysts, nitrogen oxide (NOx) removal catalysts, process catalysts and others.
NIPPON SHOKUBAI CO., LTD. 
