Stanley Electric Co., Ltd. announces an Equity Buyback for 5,000,000 shares, representing 3.05% for ¥10,000 million.
October 31, 2023 at 02:20 am EDT
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Stanley Electric Co., Ltd. (TSE:6923) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 3.05% of its issued share capital, for total worth of ¥10,000 million. The purpose of the share repurchases is to return profits to shareholders and implement flexible capital policies in response to changes in the corporate environment.
The program is valid till February 15, 2024. As of September 30, 2023, the company had 164,047,578 shares (excluding treasury stock) in issue and 7,152,422 shares are in treasury.
Stanley Electric Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive equipment products, component products and electronic applied products. The Company operates through three segments. The Automotive Equipment segment mainly manufactures automotive lighting products, which are sold to automobile manufacturers. The Components segment mainly manufactures electronic device products that are sold to manufacturers related to electrical machinery and automobiles. The Electronic Applied Products segment mainly manufactures electronic applied products such as units and modules that meet the specifications of customers, such as liquid crystal backlights, and operation panels that are sold mainly to electrical equipment, automobiles, and automobile-related manufacturers. In addition, the Company is also engaged in business activities such as promotion of employment of people with physical disabilities and financial and management services for groups.
STANLEY ELECTRIC CO., LTD. 
