Tokyo Sangyo Co., Ltd. announces an Equity Buyback for 2,000,000 shares, representing 7.22% for ¥1,000 million.
July 05, 2021 at 11:45 am IST
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Tokyo Sangyo Co., Ltd. (TSE:8070) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 7.22% of its issued share capital, for a total price of ¥1,000 million. The purpose of the program is to eliminate cross-shareholdings, expand the shareholder base, improve the distribution of shares and improve liquidity, and improve shareholder value by strengthening corporate governance. The program is valid till January 31, 2022. As of June 30, 2021, the company had 27,718,874 shares in issue (excluding treasury stock) and 959,612 shares in treasury.
Tokyo Sangyo Co Ltd is a Japan-based company engaged in the electric power business, the chemical and environment business, the electronic precision equipment business and the life related business. The Company operates through four business segments. Electric Power segment is engaged in the provision of power generating equipment, power distribution equipment and other electric power related equipment. Chemical and Environment segment is engaged in the provision of plants and equipment for chemical, petroleum refining, pharmaceutical, textile, rubber, nonferrous metals and other industries. Electronic Precision Equipment segment is engaged in the provision of precision equipment, measuring devices, air conditioning and other related equipment. Life Related segment is engaged in the provision of water-saving automatic flusher, plastic bags and garbage collection bags. The Company is also engaged in the management and operation of buildings, and the real estate leasing business.
TOKYO SANGYO CO., LTD. 