Tsurumi Manufacturing Co.,Ltd. announces an Equity Buyback for 700,000 shares, representing 2.84% for ¥2,500 million.
May 13, 2024 at 01:00 am EDT
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Tsurumi Manufacturing Co.,Ltd. (TSE:6351) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 2.84% of its issued share capital (excluding treasury stock), for a total purchase price of ¥2,500 million. The purpose of repurchase program is to improve capital efficiency, return profits to shareholders, and to implement flexible capital policies that respond to changes in the business environment.
The program will continue through November 8, 2024. As of March 31, 2024, the company had 24,646,664 shares outstanding excluding treasury shares and had 2,853,336 shares in treasury.
TSURUMI MANUFACTURING CO.,LTD. is a Japan-based company engaged in manufacture and sale of pumps and related equipment. The Company operates through three geographic segments including Japan, North America and China. The Company is engaged in production, purchasing, sale and leasing of flagship submersible pumps, other pumps, environmental equipment and peripheral equipment. The Company is also engaged in related business, such as associated repair and after-sales service, installation of machinery and equipment, civil engineering work, electrical work, piping work, construction of water supply facilities, construction of steel structures, sale of secondhand and leasing of fixed assets, among others. The Japan segment is engaged in the manufacture and sale of pumps and related equipment, engineering and other businesses. The subsidiary is also engaged in real estate leasing business and leasing of machinery, office equipment and vehicles.
TSURUMI MANUFACTURING CO.,LTD. 
