Koito Manufacturing Co., Ltd. announces an Equity Buyback for 16,000,000 shares, representing 4.98% for ¥35,000 million.
April 26, 2023 at 03:00 am EDT
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Koito Manufacturing Co., Ltd. (TSE:7276) announces a share repurchase program. Under the program, the company will repurchase up to 16,000,000 shares, representing 4.98% of its issued share capital, for ¥35,000 million. The purpose of the program is to improve its corporate value and sustainable growth.
The program will continue through January 31, 2024. As of March 31, 2023, the company had 321,492,353 issued shares (excluding treasury stock) and 86,519 treasury shares.
KOITO MANUFACTURING CO., LTD. is mainly engaged in the manufacture and sale of automotive lighting equipment, aircraft parts, railway vehicles parts, electrical equipment and measuring equipment. The Company mainly operates in six segments, including Japan, China, Asia, North America, Europe and Others. The Companyâs major products include light-emitting diode (LED) head lamps, discharge head lamps, headlights, sign lamps, high mount stop lamps, halogen bulbs, miniature bulbs and other lamp fittings, control equipment for rail vehicles, roads traffic signals, traffic control systems, roads and tunnels illumination lamps, facilities illumination lamps, accommodation equipment, aircraft parts, electronic parts, head lamps cleaners, sheets for aircraft and rail vehicles, as well as environment control equipment. The Company is also engaged in the development and manufacture of forward monitoring operation support systems for advanced driver-assistance systems (ADAS) through subsidiary.
KOITO MANUFACTURING CO., LTD. 
