Placo Co., Ltd. announces an Equity Buyback for 50,000 shares, representing 1.88% for ¥80 million.
September 14, 2020 at 04:45 am EDT
Share
Placo Co., Ltd. (JASDAQ:6347) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 1.88% of its share capital, for ¥80 million. The company will repurchase its shares in order to enable the flexible implementation of capital policy in response to changes in the business environment, strengthen shareholder returns, and improve capital efficiency. The program will run until November 30, 2020. As of August 31, 2020, the company had 2,657,197 shares outstanding (excluding treasury shares) and 77,478 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. 
