Satoh & Co., Ltd. announces an Equity Buyback for 600,000 shares, representing 6.71% for ?810 million.
November 11, 2021 at 01:00 am EST
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Satoh & Co., Ltd. (JASDAQ:9996) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 6.71% of its issued share capital for ?810 million. The shares will be repurchased from SATO Kosan at a price of ?1,350 per share. The purpose of the program is to expand the business, improve profitability, strengthen our financial base, and enhance our shareholders' equity. The program is valid till December 13, 2021. As of September 30, 2021, the company had 8,940,491 shares issued (excluding treasury stock) and 212,149 shares in treasury.
Satoh&Co.,Ltd. is a Japan-based company principally engaged in the food wholesale and retail business. The Company operates in two business segments. The Wholesale segment is engaged in the wholesale and delivery of confectionery and bakery ingredients, school lunch ingredients, food ingredients for hotels and restaurants, as well as prepared food products for retailers. The Retailing segment is engaged in the sale of cooked and frozen food and other commercial food products for individual and general consumers through the commercial food direct sales centers. The Company is also engaged in the processing and sale of meat products, the inspection of food and water quality, the planning, development and sale of menu database and information systems, as well as the provision of contracted logistics services for commercial food.
SATOH & CO., LTD. 
