Japan Power Fastening Co., Ltd. announces an Equity Buyback for 500,000 shares, representing 3% for ¥100.5 million.
May 22, 2017 at 05:33 am EDT
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Japan Power Fastening Co., Ltd. (TSE:5950) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 3.0% of its outstanding share capital, for a total consideration of ¥100.5 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. As of April 30, 2017, the company had 16,640,514 shares outstanding and 2,048,026 shares in treasury.
JAPAN POWER FASTENING CO., LTD. is a Japan-based company mainly engaged in the manufacturing and sale of fasteners and tools for architectural applications, including screws, nuts and metal fittings, as well as components for automobiles and home appliances. The Company operates in two business segments. The Architectural Fastener and Tool segment is engaged in the manufacture and sale of fasteners and tools for housing, mainly prefabricated houses, as well as for general construction and civil engineering applications. The Automotive and Home Appliance Parts segment is engaged in the manufacturing and sale of parts and components for automobiles and home appliances in China. The others business includes the operation of real estate leasing business.
JAPAN POWER FASTENING CO.,LTD. 
