SWCC Showa Holdings Co., Ltd. announces an Equity Buyback for 11,000,000 shares, representing 3.57% for ¥1,001 million.
July 31, 2017 at 03:30 am EDT
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SWCC Showa Holdings Co., Ltd. (TSE:5805) announces a share repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 3.57% of its share capital, at ¥91 per share for ¥1,001 million. The company will repurchase its shares in order to avoid the impact of the temporary market sale of 9,874,000 shares held by Toshiba Corporation (TSE:6502) on its share price, as well as based on its flexible capital policy which responds to changes in the business environment. As of June 30, 2017, the company had 308,131,006 shares outstanding (excluding treasury shares) and 137,605 shares in treasury.
SWCC Corp is a Japan-based company mainly engaged in the electrical wire rod business and other businesses. The Company operates through three segments. The Energy and Infrastructure segment manufactures and sells electric wires, electric power cables, seismic isolation devices, damping and vibration isolation, and designs and contracts engineering. The Communication and Industrial Device segment mainly manufactures and sells communication cables, wire harnesses, and precision devices. The Electrical Equipment and Components segment mainly manufactures and sells magnet wires, bare wires, oxygen-free copper, copper alloy wires, and electric wires for automobiles. The Company is also engaged in new businesses including sales of network solutions, logistics business, office management business, research and development of materials, and manufacturing and sales of superconducting business.
SWCC CORPORATION 
