The Takigami Steel Construction Co., Ltd. announces an Equity Buyback for 2,400,000 shares, representing 9.95% for ¥1,322.4 million.
February 12, 2016 at 01:25 pm IST
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The Takigami Steel Construction Co., Ltd. (TSE:5918) announces a share repurchase program. Under the program, the company will repurchase up to 2,400,000 shares, representing 9.96% of its total shares outstanding excluding treasury shares, for a total of ¥1,450 million. The company will acquire its own shares to contribute to the improvement of net income per share, return on equity, capital efficiency and return of shareholder profits. The company has received the notification for sale under the program from its shareholder Takigami Bolt & Nut Co., Ltd. The share repurchase program is valid until February 29, 2016. As of January 31, 2016, the company had 24,131,170 shares outstanding excluding treasury shares and had 2,844,830 shares in treasury.
On February 15, 2016, the company announced that the shares will be purchased at a purchase price of ¥551 per share for a total of ¥1,322.4 million.
Takigami Steel Construction Co Ltd is a Japan-based company engaged in the design, manufacture and sale of steel structure products. The Company operates in five business segments. The Steel Structure Products Manufacturing segment is engaged in the design, manufacture and construction of steel bridges, iron frames and other steel structure products and the development and sale of precast concrete products for bridges, and sale of asphalt additives. The Real Estate Leasing segment is engaged in the leasing and management of real estate properties. The Materials Sale segment is engaged in processing and sale of steel sheets and various steel materials. The Transportation segment is engaged in transportation of goods and other related business. The machine tool manufacturing segment is engaged in the design, manufacture and sale of machine tools, automotive machine tools, and jigs and tools. The Company also operates a solar power generation business.