Nippon Tungsten Co., Ltd. announces an Equity Buyback for 100,000 shares, representing 4.1% for ¥240 million.
February 12, 2020 at 02:00 am EST
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Nippon Tungsten Co., Ltd. (TSE:6998) announces a share repurchase program. Under the program, the company will repurchase 100,000 shares, representing 4.1% of the outstanding shares for ¥240 million. The purpose of the program is to enhance capital efficiency and to improve shareholder returns. The program will run until August 31, 2020. As of January 31, 2020, the company had 2,438,947 shares outstanding and 138,813 shares in treasury.
Nippon Tungsten Co., Ltd. is a Japan-based company primarily engaged in manufacturing and sale of machine parts, electrical parts and other related business. The Company operates in two segments. The Machine Parts segment is engaged in manufacturing and sales of magnetic head substrates, NT die cutters, automation and labor saving equipment, etc. The Electrical Parts segment is engaged in manufacturing and sales of tungsten wires, electrical contacts, electrodes etc. Other businesses include building management, insurance agent business, etc.
NIPPON TUNGSTEN CO., LTD. 
