Wavelock Holdings Co., Ltd. announces an Equity Buyback for 500,000 shares, representing 5% for ¥650 million.
July 31, 2018 at 03:57 am EDT
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Wavelock Holdings Co., Ltd. (TSE:7940) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 5% for ¥650 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, enhance capital efficiency and to improve shareholder returns. The plan will expire on March 29, 2019. As of June 30, 2018, the company had 10,007,265 shares outstanding and 1,113,273 shares in treasury.
WAVELOCK HOLDINGS CO., LTD. is a Japan-based holding company mainly engaged in the manufacture and sale of composite materials made from plastic, fiber and paper. The Company operates through four business segments. Interior segment is involved in the manufacture and sale of wallpaper products, as well as the sale of related products. Weaving segment is involved in the manufacture of net products made of synthetic fibers, as well ae the sale of insect-proof nets for general houses, insect-proof nets for rehabilitation, agricultural material nets, civil engineering materials and construction temporary materials. Advanced Technology segment is involved in the sale of metal decorative films, glitter tapes, special printing, functional films and sheets and opening tapes. Industrial Materials and Packaging Materials segment is involved in the sale of films and plastic sheets including construction temporary materials, agricultural materials, food packaging materials.