Yamaha Corporation announces an Equity Buyback for 6,000,000 shares, representing 3.41% for ?28,000 million.
August 23, 2021 at 03:00 am EDT
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Yamaha Corporation (TSE:7951) announces a share repurchase program. Under the program, the company will repurchase 6,000,000 shares, representing 3.41% of its share capital, at ?4,666.67 per share, for ?28,000 million. The company will repurchase its shares in order to improve shareholder returns and capital efficiency. The program will run until February 28, 2022. As of June 30, 2021, the company had 175,796,661 shares outstanding (excluding treasury shares) and 15,758,364 shares in treasury.
Yamaha Corporation is a diversified group organized around 4 areas of activity:
- design and manufacturing of music instruments (64.1% of net sales): pianos, digital music instruments, wind instruments, string instruments, percussion instruments, music software, etc. The group is also providing training services in music and English language;
- production of audio and IT equipments (27.9%): loud speakers, online karaoke equipments, routers, conference systems, etc.;
- other (8%): sale of electronic equipments, golf products, automotive interior components, etc.
Net sales are distributed geographically as follows: Japan (29%), North America (20%), Europe (20%), China (16%) and others (15%).
YAMAHA CORPORATION 
