Asaka Riken Co., Ltd. announces an Equity Buyback for 33,000 shares, representing 1.29% for ¥49.5 million.
February 07, 2020 at 01:30 am EST
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Asaka Riken Co., Ltd. (JASDAQ:5724) announces a share repurchase program. Under the program, the company will repurchase 33,000 shares, representing 1.29% of the outstanding shares for ¥49.5 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. The program will run until July 31, 2020. As of December 31, 2019, the company had 2,555,075 shares outstanding and 17,225 shares in treasury.
Asaka Riken Co., Ltd. mainly operates in precious metal business and environment business. The Company operates in three segments. The Precious Metal segment is engaged in the separation, recovery, restitution and sale of precious metal such as gold, silver, platinum and palladium from substrate chips, defective products and waste. Its main products and services include gold bullion, silver bullion, platinum bullion and palladium, the recovery and processing of precious metal, the cleaning and recycle of jigs and the recycle of functional components. The Environment segment is engaged in the delivery and recycle of ferric chloride waste fluid, and the recovery and sale of copper. Its main products include aqueous ferric chloride, water treatment agent, copper powder and photocatalyst, among others. The System Entrusted Development segment operates in system entrusted development business. The Company also operates transportation business.
ASAKA RIKEN CO.,LTD. 
