Pacific Industrial Co., Ltd. announces an Equity Buyback for 1,200,000 shares, representing 2.01% for ¥1,405.2 million.
April 27, 2023 at 02:40 am EDT
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Pacific Industrial Co., Ltd. (TSE:7250) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 2.01% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,405.20 million. The shares will be repurchased at a price of ¥1,171 per share.
The purpose of the program is to improve capital efficiency and implement agile capital policies in response to changes in the business environment. As of March 31, 2023, the company has 59,641,987 issued shares (excluding treasury stock) and 1,670,909 treasury shares.
PACIFIC INDUSTRIAL CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of press and resin products, and valve products. The Company operates through two business segments. The Press and Resin Product segment is mainly engaged in the manufacture and sale of wheel caps, engine covers, hood trunk hinges, oil pans and other press and resin products for automobile, as well as press molds, resin molds and other mold products. The Valve Product segment is mainly engaged in the manufacture and sale of tire valves, valve core products, air conditioning valves and other valve products, microcomputer control equipment and other electronic machine products, compressor related products, as well as tire pressure monitoring system (TPMS) products. The Other segment is mainly engaged in the processing of information by computer, the development and sale of software, and the provision of insurance agency service.
PACIFIC INDUSTRIAL CO., LTD. 
