Shimojima Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 1.28% for ¥400 million.
November 01, 2018 at 11:30 am IST
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Shimojima Co., Ltd. (TSE:7482) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 1.28% of its share capital, for ¥400 million. The company will repurchase its shares in order to implement a flexible capital policy which responds to changes in the business environment. The share repurchase program will run until March 22, 2019. As of September 30, 2018, the company had 23,477,503 shares outstanding (excluding treasury shares) and 780,323 shares in treasury.
Shimojima Co Ltd is a Japan-based company principally engaged in the purchase and sale of packing materials such as paper bags, wrapping paper/cartons, plastic bags, adhesive tapes, strings/ribbons, and store supplies. The Company operates through three segments. The Paper Products segment is engaged in the sale of original brand products including paper bags, wrapping paper and paper containers. The Chemical Products and Packaging Materials segment is engaged in the sale of chemical products such as polyethylene bags and polypropylene (PP) bags, as well as adhesive tapes, food packaging materials and string ribbons. The Store Supplies segment is engaged in the sale of horticultural-related materials, and apparel-related materials including office supplies, store supplies, daily necessities, foodstuffs, as well as hangers that are handled by subsidiaries. The Company is also engaged in logistics business.
SHIMOJIMA CO., LTD. 
