Kuraray Co., Ltd. announces an Equity Buyback for 15,000,000 shares, representing 4.48% for ¥20,000 million.
May 14, 2024 at 09:30 am IST
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Kuraray Co., Ltd. (TSE:3405) announces a share repurchase program. Under the program, the company will repurchase 15,000,000 shares, representing 4.48% for a total consideration of ¥20,000 million. The purpose of the program is to strengthen shareholder returns, enhance capital efficiency and to enable the implementation of a flexible capital policy in response to changes in the business environment.
The program will run until October 31, 2024. As of March 31, 2024, the company had 334,807,257 shares in outstanding excluding 20,056,346 shares in treasury.
Kuraray Co., Ltd. is the world's leader in the manufacturing and marketing of chemical products, resins and synthetic fibers. Net sales break down by family of products as follows:
- chemical and resin (45.6%): functional resins and films, elastometers, thermoplastics, adhesives, fine chemistry products, etc. primarily for cosmetic products, televisions and mobile phones screens, foot packaging and paper manufacturing;
- fibers and textile products (29.8%): synthetic fibers and man-made leather, polyester, nonwoven textile products, resins, etc. sold under the brands Kuralon, Clarino Vectran and Kuraflex;
- functional materials (18.8%): methacrylic resin, medical chemicals, carbon materials, etc.;
- other (5.8%): primarily dental treatment and water purifying products.
At the end of 2019, the group had 52 production worldwide.
Net sales break down geographically as follows: Japan (27.1%), China (13.8%), Asia (12.3%), Europe (23.6%), the United States (18.5%) and other (4.7%).
KURARAY CO., LTD 
