Senshu Electric Co.,Ltd. announces an Equity Buyback for 170,000 shares, representing 1.81% for ¥500 million.
December 09, 2020 at 12:00 am EST
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Senshu Electric Co.,Ltd. (TSE:9824) announces a share repurchase program. Under the program, the company will repurchase 170,000 shares, representing 1.81% of the outstanding shares for ¥500 million. The purpose of the program is to improve shareholder returns, to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment. The program will run until April 30, 2021. As of November 30, 2020, the company had 9,374,912 shares outstanding and 1,452,088 shares in treasury.
Senshu Electric Co Ltd is a Japan-based company primarily engaged in the sale of wires and cables, electrical materials, information related equipment and others. The Company is engaged in the provision of equipment wires, communication wires, fire protection wires, heat-resistant wires, network cables, thermocouples and compensating wires, instrumentation cables, magnet wires, power cables, control cables, insulated wires, signal cables, various eco cables, lightning rod wires, bare copper wires, robot wires, automobile wires, optical fiber cables and peripheral devices. The Company is also involved in the orders and sales of related control devices.