Estic Corporation announces an Equity Buyback for 260,100 shares, representing 9.57% for ¥1,346.77 million.
July 26, 2019 at 11:30 am IST
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Estic Corporation (TSE:6161) announces a share repurchase program. Under the program, the company will repurchase 260,100 shares, representing 9.57% of the outstanding shares for ¥1,346.77 million. The program will run until September 30, 2019. As of July 26, 2019, the company had 2,719,030 shares outstanding and 222,970 shares in treasury.
ESTIC CORPORATION is engaged in manufacture, sale, repair and inspection of nut runners, hand nut runners, servo press and screw tightening equipment. The nut runner consists of alternating current (AC) turbo motors, sensors and controllers. It uses AC servomotor as the driving source, analyzes information from sensor though computer and controls the motor to tighten screws of bolts and nuts. The hand nut runner is a hand tool for tighten. The servo press is a press machine, consisting of AC servo motor, sensor and controller. The machine is applied in nut runner technology, uses AC servomotor as the driving source, presses object by changing the rotational force of the motor to linear motion through ball screw. The repair and inspection business provides repair of nut runners, hand nut runners, servo press, as well as inspection of accuracy for screw tightening.