Ohishi Sangyo Co., Ltd.'s Equity Buyback in the amount of ¥350 mm has expired
June 26, 2013 at 12:00 am EDT
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The Board of Directors of Ohishi Sangyo Co. Ltd. (FKSE:3943) authorized a share repurchase program on June 27, 2012. Under the program, the company will repurchase up to 500,000 shares, representing 5.88% of its issued share capital, for a total cost of up to ¥350 million. The company will make the repurchases in accordance with article 165, section 2 of the Companies Act. The purpose of the repurchase program is to pursue an agile capital strategy responsive to changes in the business world. The plan will commence on June 27, 2012 and will continue until the closing of the next General Shareholders' Meeting. As of June 27, 2012, the company has 8,498,832 shares outstanding and 829,168 shares held in treasury.
Ohishi Sangyo Co. Ltd.'s share repurchase program expired on June 26, 2013. Under the program, the company has repurchased 218,000 shares, representing 2.56% for ¥139.19 million.
OHISHI SANGYO CO., LTD. is a Japan-based company principally engaged in the manufacture and sale of packaging-related materials. The Company operates in three business segments. The Cushioning Function Materials segment mainly manufactures and sells pulpy molds, corrugated boards and other materials with cushioning function. The Packaging Function Materials segment mainly manufactures and sells packaging-related materials, including paper bags and synthetic resin products. The Others segment is involved in the sale of information processing equipment, the development and sale of software and design-related business, as well as the leasing of real estate properties.