Tokyo Cosmos Electric Co., Ltd. announces an Equity Buyback for 35,000 shares, representing 2.26% for ¥31.85 million.
March 17, 2021 at 03:30 am EDT
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Tokyo Cosmos Electric Co., Ltd. (TSE:6772) announces a share repurchase program. Under the program, the company will repurchase 35,000 shares, representing 2.26% of the outstanding shares for ¥31.85 million. The shares will be repurchased at ¥910 per share. The purpose of the program is improve capital efficiency and implement a flexible capital policy in response to changes in the business environment. The program will expire on March 18, 2021. As of February 26, 2021, the company had 1,549,786 shares outstanding and 31,464 shares in treasury.
Tokyo Cosmos Electric Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of resistors and automotive electrical components. The Company operates through two business segments. The Variable Resistor segment is engaged in the provision of variable resistors and semi-fixed resistors for industrial equipment and consumer equipment. The Automotive Electrical Components segment is engaged in the provision of automotive position sensors, torque sensors, angle sensors, automotive side mirror heaters and automotive film heaters. The Company is also engaged in the operation of mixed integrated circuits business, production equipment and dies business, as well as switches business.
TOKYO COSMOS ELECTRIC CO., LTD. 