Bando Chemical Industries, Ltd. announces an Equity Buyback for 1,500,000 shares, representing 3.47% for ¥2,000 million.
May 15, 2024 at 01:00 am EDT
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Bando Chemical Industries, Ltd. (TSE:5195) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 3.47% of its issued shares (excluding treasury stock) for ¥2,000 million. The company will repurchase its shares in order to implement flexible capital policies in response to changes in the business environment and shareholder return.
The repurchase program will continue until April 30, 2025. As of March 31, 2024, the company had 43,236,095 shares in issue (excluding treasury stocks) and 977,441 shares in treasury.
Bando Chemical Industries, Ltd. is a company mainly engaged in the manufacture and sale of automotive parts, industrial materials and high performance elastomer products. The Company operates through three segments. Its Automotive Parts segment involves in the manufacture and sale of transmission belt products for automobiles and motorcycles. Industrial Materials segment is engaged in the manufacture and sale of general industrial transmission belt products, other transmission products, carrying belt, transportation system products, and razor rolls. Its High Performance Elastomer Products segment is involved in the manufacture and sale of cleaning blade, high function roller and precision belt, among others. In addition, it is also engaged in the robot related business, import and export business, real estate business, insurance agency business and photovoltaic power generation business, among others.
BANDO CHEMICAL INDUSTRIES, LTD. 
