Sumitomo Osaka Cement Co., Ltd. announces an Equity Buyback for 3,500,000 shares, representing 9.41% for ?10,000 million.
November 25, 2021 at 01:00 am EST
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Sumitomo Osaka Cement Co., Ltd. (TSE:5232) announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares, representing 9.41% of its issued share capital (excluding treasury stock), for a total purchase price of ?10,000 million. The purpose of the program is to return profits to shareholders by improving capital efficiency. The program will continue through June 30, 2022. As of September 30, 2021, the company had 37,200,767 issued shares (excluding treasury stock) and 42,450 treasury shares.
Sumitomo Osaka Cement Co., Ltd. specializes in production and marketing of cements and building materials. Net sales break down by activity as follows:
- production of cement and building materials (85.7%): cement, aggregates, ready-to-use concrete, etc.;
- extraction of minerals (5%): limestone, dolomite, calcium carbonate, silica powder, etc.;
- manufacturing of advanced materials (44.5%);
- production of optoelectronic components (2.4%);
- other (2.4%): concrete structures maintenance and repair services, management of real estate assets, engineering services, etc.
At the end of March 2021, the group had 6 cement plants located in Japan.
SUMITOMO OSAKA CEMENT CO., LTD. 
