Nihon Plast Co., Ltd. announces an Equity Buyback for 700,000 shares, representing 4.25% for ¥676.2 million.
September 30, 2016 at 04:00 am EDT
Nihon Plast Co., Ltd. (TSE:7291) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 4.25% of its issue share capital, for a total of ¥676.2 million. Shares will be repurchased through the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. As of September 30, 2016, the company had 16,452,274 shares outstanding and 2,957,726 shares in treasury.