Showa Sangyo Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 2.99% for ¥3,435 million.
May 13, 2024 at 12:30 pm IST
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Showa Sangyo Co., Ltd. (TSE:2004) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing2.99% of the outstanding shares for ¥3,435 million. The shares will be repurchased at a price of ¥3,435 per share.
The purpose of the program is to provide flexible shareholder returns and improve capital efficiency, and we will cancel treasury stock to eliminate concerns about future share dilution. The program will run until May 14, 2024. As of April 30, 2024, the company had 33,468,602 shares outstanding and 516,818 shares in treasury.
Showa Sangyo Co., Ltd. is a Japan-based company principally engaged in the manufacture and sale of flour milling, oils and fats, feed business, warehousing business, as well as real estate rental business. The Company operates through six business segments. The Flour Milling segment provides commercial flour, commercial premixes, frozen dough, frozen foods, bread and bran. The Oils and Fats segment provides edible oils, premixes, pasta, gift sets, soy protein and defatted soybeans. The Carbohydrate segment is engaged in the manufacture and sale of saccharified products and corn starch. The Feed segment provides mixed feed, plain feed, chicken eggs and other livestock products. The Warehousing segment is engaged in warehousing business including loading and storage. The Real Estate segment is involved in the leasing of buildings. In addition, the Company is engaged in insurance agency, automobile leasing and transportation business.
SHOWA SANGYO CO., LTD. 
