UT Group Co.,Ltd. announces an Equity Buyback for 1,300,000 shares, representing 3.22% for ¥2,817 million.
May 15, 2023 at 04:00 am EDT
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UT Group Co.,Ltd. (TSE:2146) announces a share repurchase program. Under the program, the company will repurchase 1,300,000 shares, representing 3.22% of the outstanding shares for ¥2,817 million. The purpose of the program is to improving capital efficiency .
The program will run until October 31, 2023. As of April 30, 2023, the company had 40,362,760 shares outstanding and 307 shares in treasury.
UT Group Co., Ltd. is a Japan-based company engaged in the indefinite employment and dispatch business for the manufacturing, design, development and construction industry. The Company operates in three business segments. Manufacturing segment is involved in the provision of temporary staffing, contracting and human resources services for the manufacturing industry. Its main customers include domestic semiconductors, electronics, automobiles, building materials and housing equipment companies. Solution segment is involved in the provision of employment dispatch, contracting for transfer in line with structural reforms for main manufacturing companies. Its main customers are major electronics manufacturers in Japan. Engineering segment is engaged in the provision of engineer dispatch, contracting and human resources services for electro-mechanical companies. Its main customers are manufacturers and general contractors.