Nadex Co., Ltd. announces an Equity Buyback for 600,000 shares, representing 6.43% for ¥600 million.
June 09, 2023 at 11:40 am IST
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Nadex CO., Ltd. (JASDAQ:7435) announces a share repurchase program. Under the program, the company will repurchase 600,000 shares, representing 6.4% of the issued share capital, for ¥600 million. The purpose of the program is to acquire and cancel treasury stock in order to return profits to shareholders and improve capital efficiency.
The program will run until March 29, 2024. As of April 30, 2023, the company had 9,324,734 shares issued (excluding treasury stock) and 281,066 shares in treasury.
NADEX CO., LTD. is a Japan-based company mainly engaged in manufacturing and sales of electronics components, sales of industrial machinery, factory automation (FA) system business and welding solution business of resistance welding equipment. The Company operates in four segments: Japan segment, the Americas segment, China segment and Thai segment. The Companyâs welding equipment & materials business includes resistance welding, arc welding, laser and industrial robots, etc. The factory automation business includes automatic and labor-saving car parts manufacturing facilities, electronic devices, manufacturing facilities, inspection and meters. The electronic control equipment business includes electronics, control components and equipment, power supply modules. The information technology (IT) solutions include manufacturing execution system (MES) solutions, equipment management solutions, energy management solutions and image inspection solutions, etc.