Morinaga&Co., Ltd. announces an Equity Buyback for 1,400,000 shares, representing 2.97% for ¥6,700 million.
May 11, 2023 at 11:30 am IST
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Morinaga & Co., Ltd. (TSE:2201) announces a share repurchase program. Under the program, the company will repurchase up to 1,400,000 shares, representing 2.97% of its share capital (excluding treasury shares), for ¥6,700 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency.
The program will expire on May 19, 2023. As of March 31, 2023, the company had 47,124,506 shares outstanding (excluding treasury shares) and 1,015,263 shares in treasury.
Morinaga & Co., Ltd. is a Japan-based company mainly engaged in food manufacturing, food wholesale, real estate and services etc. The Company operates in three segments. The Food Manufacturing segment is engaged in manufacturing of confectionaries, foods, frozen desserts, jelly drinks, etc. The Food Wholesale segment is engaged in wholesales of commercial food. The Real Estate and Services segment is engaged in real estate rental business and management of golf courses. Other business involves in the financial services and other activities.