Sumitomo Mitsui Construction Co., Ltd. announces an Equity Buyback for 3,000,000 shares, representing 1.9% for ¥1,000 million.
February 10, 2021 at 01:00 am EST
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Sumitomo Mitsui Construction Co., Ltd. (TSE:1821) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 1.9% of the issued share capital for ¥1,000 million. The purpose of the program is to improve capital efficiency and implement agile capital policies in response to changes in the business environment. The program will expire on June 30, 2021. As of December 31, 2020, the company had 158,193,687 shares in issue and 4,479,634 shares in treasury.
Sumitomo Mitsui Construction Co Ltd is a Japan-based company mainly engaged in the civil engineering and construction work. The Company operates in two business segments. Along with its subsidiaries, the Civil Engineering Work segment is engaged in the design and construction of civil engineering works in domestic markets and overseas markets, include construct prestressed concrete (PC) bridges and other construction projects ordered mainly by government agencies. The Building Work segment is engaged in the design and construction of building works in domestic markets and overseas markets, include high-rise residential buildings and other construction projects ordered mainly by private companies. The Company also operates solar power generation business and related businesses, as well as insurance agency business.
SUMITOMO MITSUI CONSTRUCTION CO.,LTD. 
