Toyobo Co., Ltd. announces an Equity Buyback for 1,300,000 shares, representing 1.46% for ¥1,000 million.
February 07, 2023 at 11:00 pm EST
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Toyobo Co., Ltd. (TSE:3101) announces a share repurchase program. Under the program, the company will repurchase up to 1,300,000 shares, representing 1.46% of its share capital, for ¥1,000 million. The purpose of the program is to allocate shares over several fiscal years to the plan of compensation for granting restricted shares introduced as an incentive plan for officers.
The program will expire on April 30, 2023. As of December 31, 2022, the company had 88,980,243 shares in issue (excluding treasury stock) and 68,549 shares in treasury.
Toyobo Co Ltd is a Japan-based company mainly engaged in the film and functional resin business, industrial material business, and textile and commerce business. It has five business segments. Film and Functional Resin segment manufactures, processes and sells packaging films, industrial films, industrial adhesives, engineering plastics and optical functional materials. Industrial Materials segment manufactures, processes and sells automotive fiber materials, super fibers, non-woven fabrics. Textile and Trading segment manufactures and sells functional clothing, apparel products, clothing textiles, and clothing fibers. Healthcare segment manufactures, processes and sells bio products, pharmaceuticals, medical membranes, medical devices, aqua membranes, and functional filters. It is also engaged in the assembly and sale of seawater desalination modules. The Real Estate segment sells, rents and manages movables. It also designs and constructs buildings and machinery and sells equipment.
TOYOBO CO., LTD. 
