Maezawa Kyuso Industries Co.,Ltd. announces an Equity Buyback for 1,400,000 shares, representing 6.36% for ¥1,000 million.
May 12, 2023 at 11:30 am IST
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Maezawa Kyuso Industries Co.,Ltd. (TSE:6485) announces a share repurchase program. Under the program, the company will repurchase up to 1,400,000 shares, representing 6.36% of its issued share capital (excluding treasury stock), for ¥1,000 million. The purpose of the program is improve capital efficiency and enhance shareholder returns.
The program will run until March 22, 2024. As of April 30, 2023, the company had 22,006,524 shares in issue (excluding treasury stock) and 993,476 shares in treasury.
MAEZAWA KYUSO INDUSTRIES CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of water supply equipment. The Company operates through three business segments. The Water Supply segment is engaged in the manufacture and sale of water supply devices such as saddle-equipped water faucets, stop cocks, various fittings, and water meters. The Housing Equipment segment is engaged in the manufacture and sale of hot water supply piping components, heating equipment components, and unitized hot water supply systems. The Product Sale segment is engaged in the sale of related products. The main products are water stopcocks with saddles, gate valves, top stopcocks, ball stopcocks for water supply, rotating headers, pressure reducing valves with hot water supply valves, pipes and other components. The Company is also engaged in the design, installation and sale of hot water supply systems, and the manufacture of standard products for water supply systems.
MAEZAWA KYUSO INDUSTRIES CO.,LTD. 