Sankyu Inc. announces an Equity Buyback for 3,750,000 shares, representing 6.41% for ¥15,000 million.
May 10, 2023 at 12:00 am EDT
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Sankyu Inc. (TSE:9065) announces a share repurchase program. Under the program, the company will repurchase up to 3,750,000 shares, representing 6.41% of its total shares outstanding (excluding treasury shares), for a total of ¥15,000 million. The purpose of repurchase program is to expand the profit returns to shareholders and improve corporate value.
The repurchase program is valid till May 10, 2024. As of March 31, 2023, the company had 58,495,025 shares outstanding (excluding treasury shares) and 3,262,953 shares in treasury.
SANKYU INC. is a Japan-based company principally engaged in the logistics business. The Company operates through two business segments. The Logistics segment is engaged in the loading and unloading of marine vessels' goods, the operation of container terminals, as well as the provision of packaging, storage and management of warehouses, and transportation services. The Machinery Works segment is engaged in the construction, installation, pipe working and maintenance of general industrial machinery and environmental equipment, the transportation of large and heavy goods, the design, assembly and construction of bridges, as well as the construction of factory facilities. The other businesses include the provision of services related to information systems, manpower-dispatching, insurance agency, welfare and civil engineering, the construction of plants, as well as the leasing, maintenance and management of machinery.
SANKYU INC. 
