Asahi-Seiki Manufacturing Co.,Ltd. announces an Equity Buyback for 500,000 shares, representing 17.59% for ¥1,500 million.
May 10, 2018 at 01:30 pm IST
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Asahi-Seiki Manufacturing Co.,Ltd. (NSE:6111) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 17.58% of its share capital, for ¥1,500 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy which responds to changes in the business environment. The share repurchase program will run until September 30, 2018. As of March 31, 2018, the company had 2,843,278 shares outstanding (excluding treasury shares) and 245,461 shares in treasury.
ASAHI-SEIKI MANUFACTURING CO.,LTD. is a Japan-based manufacturing company. The Company operates in two business segments. The Precision Machining segment is mainly engaged in the manufacturing and sale of various precision metal processing products and small-caliber bullets, among others. The Machinery segment is mainly engaged in the manufacturing and sale of press equipment, aircraft parts, spring machinery. The Company also outsources the businesses and manufactures molds through non-consolidated subsidiary.