Nittan Valve Co., Ltd. announces an Equity Buyback for 236,500 shares, representing 0.82% for ¥60 million.
May 25, 2020 at 03:00 am EDT
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Nittan Valve Co., Ltd. (TSE:6493) announces a share repurchase program. Under the program, the company will repurchase 236,500 shares, representing 0.82% of the outstanding shares for ¥60 million. The purpose of the program is to avoid the dilution of share value and to implement a flexible capital policy in response to changes in the business environment. The program will run until June 12, 2020. As of April 30, 2020, the company had 28,884,530 shares outstanding and 94,330 shares in treasury.
Nittan Corp, formerly Nittan Valve Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of small engine valves, variable valves, gears, and power-by-wire (PWB). The Company operates through three business segments. Small Engine Valve segment is engaged in the manufacture and sale of small engine valves for passenger cars, motorcycles, trucks, buses and general-purpose products. Variable Valve, Gear and PBW segment is engaged in manufacture and sale of electromagnetic continuous cam variable phase mechanisms for automobiles, precision forged gears for automobiles, trucks, construction machinery, industrial machinery, as well as parts for automatic transmissions. Marine Parts segment is engaged in the manufacture and sale of marine engine valves and engine valves for general-purpose products. The Company is also engaged in the manufacture and sale of valve lifters and machine tools, and the production, processing and sale of agricultural products.
NITTAN CORPORATION 
