Toyo Seikan Group Holdings, Ltd. announces an Equity Buyback for 6,500,000 shares, for ¥10,000 million.
July 30, 2021 at 07:45 am IST
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Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces a share repurchase program. Under the program, the company will repurchase up to 6,500,000 shares, representing 3.46% of its issued share capital for ¥10,000 million. The purpose of the program is returning profits to shareholders by implementing its "Mid-term Management Plan 2025" and maximize corporate value by improving asset and financial soundness and capital efficiency. The program is valid till March 31, 2022. As of June 30, 2021, the company had 188,071,335 shares issued (excluding treasury stock) and 14,790,827 shares in treasury.
Toyo Seikan Group Holdings, Ltd. is a Japan-based packaging container manufacturer. The Company operates in four business segments. The Packing Container Related segment is engaged in the manufacture and sale of cans for canning and other metal products, plastic, glass and paper products, as well as the contract manufacture and sale of aerosol products and general goods filing. The Steel Plate Related segment is engaged in the manufacture and sale of steel and processed steel plates. The Functional Material segment offers disk substrates, optical function films, glazes and gel coat. The Real Estate segment is engaged in the leasing of buildings and commercial facilities. The Others segment is engaged in the manufacture and sale of hard alloy, machineries and tools, agricultural materials, the sale of petroleum products, as well as the insurance agency business.
TOYO SEIKAN GROUP HOLDINGS, LTD. 