Powdertech Co., Ltd. announces an Equity Buyback for 66,000 shares, representing 2.23% for ¥260 million.
February 25, 2021 at 12:30 pm IST
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Powdertech Co., Ltd. (JASDAQ:5695) announces a share repurchase program. Under the program, the company will repurchase up to 66,000 shares, representing 2.23% of its issued share capital (excluding treasury stock), at ¥3,939.39 per share, for ¥260 million. The purpose of the program is to implement an agile capital policy in response to changes in the business environment. The program will run until February 26, 2021. As of December 31, 2020, the company had 2,963,220 shares in issue (excluding treasury stock) and 6,780 shares in treasury.
Powdertech Co., Ltd. manufactures and sells powder products, such as ferrite powder and iron powder products, as well as oxygen scavengers. The Company operates in two business segments. The Carrier segment manufactures and sells electrophotography carrier for copy machine and printer industry. The Iron Powder segment manufactures and sells various iron powder for powder metallurgy use, as well as oxygen scavenger and oxygen sensing agents for food industry. The Company also engages in logistics services related to their business and purchases raw materials through non-consolidated subsidiaries and other affiliated companies.
POWDERTECH CO., LTD. 
