Placo Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 11.66% for ¥500 million.
August 23, 2021 at 03:00 am EDT
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Placo Co., Ltd. (JASDAQ:6347) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 11.66% of its issued share capital for ¥500 million. The purpose of the program is to return profits to shareholders, improve capital efficiency, and implement agile capital policies according to the business environment. The program is valid till August 31, 2022. As of August 23, 2021, the company had 8,575,032 shares issued (excluding treasury stock) and 422,493 shares in treasury.
PLACO CO., LTD. is primarily engaged in manufacture and sale of inflation molding equipment, blow molding equipment and recycling equipment. The inflation molding equipment business manufactures and sells inflation molding equipment for use in the molding of film products such as shopping bags, garbage bags, agricultural polyethylene films, wrap materials, multilayer films and functional films. The blow molding equipment business manufactures and sells blow molding equipment for use in the molding of hollow products such as automobile parts, industrial parts and daily sundry articles. The recycling equipment business manufactures and sells recycling equipment such as crushers, reproduction machines and re-molding machines. The maintenance business provides maintenance and parts.
PLACO CO., LTD. 
