Tokushu Tokai Paper Co., Ltd. announces an Equity Buyback for 1,500,000 shares, for ¥6,700 million.
February 21, 2022 at 12:00 pm IST
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Tokushu Tokai Paper Co., Ltd. (TSE:3708) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 11.21% of the outstanding shares, for ¥6,700 million. The purpose of the program is to improve capital efficiency and enhance shareholder returns, to enable the execution of agile capital policies in response to future changes in the business environment, and the impact of this sale on the supply and demand of the company's shares.
The program will expire on September 30, 2022. As of January 31, 2021, the company had 13,377,545 shares outstanding and 1,522,455 shares in treasury.
Tokushu Tokai Paper Co., Ltd. is a Japan-based company, principally engaged in the manufacture and sale of pulp and paper products, as well as paper processing, civil engineering and landscaping construction business. The Company operates in three business segments. The Industrial Material segment mainly involves in production, processing and sale of raw paper for cardboard and packaging paper, as well as power sale business. The Specialty Materials segment involves in manufacture, processing and sale of special printing paper and special function paper. The Living Product segment involves in the production, processing and sale of paper towel and toilet paper. The others business involve in civil engineering and landscaping work, production and sale of thermal recycle fuel, transportation business and warehouse business.
TOKUSHU TOKAI PAPER CO., LTD. 
