NGK Insulators, Ltd. announces an Equity Buyback for 8,500,000 shares, for ¥15,000 million.
October 27, 2023 at 02:40 am EDT
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NGK Insulators, Ltd. (TSE:5333) announces a share repurchase program. Under the program, the company will repurchase up to 8,500,000 shares, representing 2.77% of its share capital, for ¥15,000 million. The repurchase program is aimed to improve capital efficiency and carry out flexible capital policies in accordance with the business environment The program will expire on February 29, 2024.
As of September 30, 2023, the company had 306,418,755 shares in issue (excluding treasury stock) and 5,538,241 shares in treasury.
NGK Insulators, Ltd. specializes in the design, manufacturing and marketing of electric and electronic components and equipments. Net sales break down by family of products as follows:
- ceramic products (57.3%): for automotive and industrial applications;
- components and equipment for industrial manufacturing processes (24.2%): components for semiconductor manufacturing equipment, corrosion-resistant ceramic apparatuses for chemical industries, gas analyzer, industrial heating systems, refractory products and radioactive waste treatment systems;
- electronic components (10.5%): especially for semiconductors manufacturing and special metals processing;
- electric equipments (8%): insulators and electric devices, batteries for electric power storage, etc.
Net sales break down geographically as follows: Japan (24.5%), Asia (30.4%), North America (21.7%), Europe (21.3%) and other (2.1%).
NGK INSULATORS, LTD 
