Tokyo Cosmos Electric Co., Ltd. announces an Equity Buyback for 45,000 shares, representing 3.08% for ¥77.31 million.
September 21, 2021 at 03:20 am EDT
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Tokyo Cosmos Electric Co., Ltd. (TSE:6772) announces a share repurchase program. Under the program, the company will repurchase up to 45,000 shares, representing 3.08% of its issued share capital (excluding treasury stock), for a total purchase price of ¥77.31 million. The shares will be repurchased at a price of ¥1,718 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 August 31, 2021, the company had 1,459,074 issued shares (excluding treasury stock) and 122,176 treasury shares.
Tokyo Cosmos Electric Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of resistors and automotive electrical components. The Company operates through two business segments. The Variable Resistor segment is engaged in the provision of variable resistors and semi-fixed resistors for industrial equipment and consumer equipment. The Automotive Electrical Components segment is engaged in the provision of automotive position sensors, torque sensors, angle sensors, automotive side mirror heaters and automotive film heaters. The Company is also engaged in the operation of mixed integrated circuits business, production equipment and dies business, as well as switches business.