Yotai Refractories Co., Ltd. announces an Equity Buyback for 1,500,000 shares, representing 7.64% for ¥1,500 million.
May 12, 2023 at 03:00 am EDT
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Yotai Refractories Co., Ltd. (TSE:5357) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 7.64% of its total shares outstanding (excluding treasury shares), for a total of ¥1,500 million. The purpose of the program is to implement a flexible capital policy that responds to the business environment.
The repurchase program is valid till March 31, 2024. As of April 30, 2023, the company had 19,630,582 shares outstanding (excluding treasury shares) and had 1,033,418 shares in treasury.
YOTAI REFRACTORIES CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of refractory products, as well as the furnace installation engineering business. The Company operates in two business segments. The Refractory Products segment is engaged in the manufacture and sale of various refractory bricks such as basic bricks, high alumina bricks, clay bricks and silica bricks, and unshaped refractory products for irons and steels, nonferrous metals, cements, glass, furnaces and environmental equipment related kilns uses. The Engineering segment is engaged in the design and construction of various industrial kilns and environmental facilities that use refractories, as well as the contacted maintenance business.
YOTAI REFRACTORIES CO., LTD. 
