Araya Industrial Co., Ltd. closed an Equity Buyback in the amount of ¥68.46 mm
September 20, 2012 at 09:30 am IST
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The Board of Directors of Araya Industrial Co., Ltd. (TSE:7305) authorized a share repurchase program on August 10, 2012. Under the program, the company will repurchase up to 600,000 shares, representing 1.06% of its issued share capital, for a total cost of up to ¥70 million. The purpose of the repurchase program is to pursue a flexible capital strategy that can respond to changes in the business world. The plan will commence on August 13, 2012 and will continue until September 21, 2012. As of July 31, 2012, the company has 56,576,626 shares outstanding and 3,876,642 shares held in treasury.
Araya Industrial Co., Ltd. completed its share repurchase program on September 20, 2012. Under the plan, the company has repurchased 600,000 shares, representing 1.06% of its issued share capital, for a total cost of up to ¥68.46 million.
ARAYA INDUSTRIAL CO., LTD. is a Japan-based company mainly engaged in steel pipe-related business, bicycle-related business, and real estate rental business. The Company operates through three business segments. The Steel Pipe-related business is engaged in the manufacture and sale of ordinary steel pipes, stainless steel pipes, various types of steel, precision processed products, and other products. It is also engaged in the manufacture and sale of agricultural houses, facility materials and agricultural foils. The Bicycle business is engaged in the manufacture and sale of bicycle rims and import and sale of completed bicycles. The Real Estate Rental business is engaged in the leasing of real estate such as land, buildings and warehouses. It is also engaged in the manufacture and sale of mechanical parts and welfare equipment, and non-life insurance agency.
ARAYA INDUSTRIAL CO., LTD. 
