Totetsu Kogyo Co., Ltd. announces an Equity Buyback for 100,000 shares, representing 0.28% for ¥200 million.
May 08, 2014 at 08:52 pm EDT
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Totetsu Kogyo Co., Ltd. (TSE:1835) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.28% of the outstanding shares excluding treasury shares, for a total of ¥200 million. The company will make market repurchase by consignment.
The purpose of the repurchase program is to realize shareholder returns. Repurchases will be in accordance to article 156 in lieu of article 165, section 3 of the Companies Act. The share repurchase program is valid until May 30, 2014.
As of March 31, 2014, the company had 35,629,169 shares outstanding excluding treasury shares and had 470,831 shares in treasury.
TOTETSU KOGYO CO., LTD. is a Japan-based company mainly engaged in the construction business. The Company operates through two business segments. The Civil Engineering segment is engaged in the plan, design, construction, supervision and other businesses related to general civil engineering work. The Construction segment is engaged in the plan, design, construction, supervision and other businesses related to general construction work. The Company is also engaged in the leasing business of commercial buildings, the environmental business, including the power generation business, the greening business, and the crushed stone recycling business, as well as the production, inspection and maintenance business of track maintenance machines, the manufacture and sale of railway-related products, and the railway-related consulting business.
TOTETSU KOGYO CO., LTD. 
