The Board of Directors of NITTO SEIKO CO., LTD. (TSE:5957) authorized a share repurchase program on November 29, 2012. Under the program, the company will repurchase up to 400,000 shares, representing 1.03% of the total number of outstanding shares excluding treasury shares. The repurchase will amount to ¥100 million. The purpose of the program is to implement a flexible capital policy in compliance with changes in business environment. The repurchases will commence on November 30, 2012, and will end on December 20, 2012. As of October 31, 2012, the company had 38,719,679 shares outstanding excluding treasury shares and had 1,265,338 shares in treasury.
NITTO SEIKO CO., LTD. completed the share repurchase program on December 11, 2012. Under the program, the company has repurchased 400,000 shares, representing 1.03% for ¥95.01 million.
Nitto Seiko Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of industrial fasteners and tools, industrial machinery and precision equipment, measurement and control equipment, and medical equipment. The Company operates four business segments. The Fastener Business segment manufactures and sells precision screw parts and specialized cold-headed parts. It sells its products domestically and overseas, primarily in Asia and North America. The Industrial Machinery Business segment manufactures and sells automatic screw driving machines, automatic riveting machines, conveyors, and various robots. The Control Business segment manufactures and sells fluid measuring instruments, high-performance inspection and sorting equipment using image sensors, automatic penetration testing machines for geological surveys, and microbubble cleaning equipment that reduces environmental impact. The Medical Business segment manufactures and sells medical lighting equipment.
