Pilot Corporation announces an Equity Buyback for 7,620,000 shares, representing 16.68% for ¥34,975.8 million.
June 15, 2017 at 02:17 pm IST
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Pilot Corporation (TSE:7846) announces a share repurchase program. Under the program, the company will repurchase up to 7,620,000 shares of its common stock, representing 16.28% of its outstanding shares for ¥34,975.8 million. The shares will be repurchased at a price of ¥4,590 per share. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. As of December 31, 2016, the company had 46,814,400 shares outstanding and 942 shares in treasury.
Pilot Corp is a Japan-based company principally engaged in the manufacture, purchasing and sale of stationery items such as writing instruments and toys. The Company operates through four geographical segments: Japan, Americas, Europe, Asia (including Africa and Oceania). The Companyâs main business is the manufacture and sale of writing instruments. Its main products include writing instruments such as fountain pens, ballpoint pens, mechanical pencils, multifunction pens, color pens, felt-tip pens, markers, drawing materials and drawing pens; stationery items such as business bags, correction items, office stationery, whiteboards, and notebooks. In addition to stationery supplies, the Japan segment is also involved in the manufacture, purchasing and sale of toys, precious metal accessories such as rings, and ceramic parts.