Gun Ei Chemical Industry Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 4.76% for ¥750 million.
December 05, 2019 at 02:30 am EST
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Gun Ei Chemical Industry Co., Ltd. (TSE:4229) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 4.76% of its share capital, for ¥750 million. The company will repurchase its shares in order to enhance shareholder returns and enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until June 19, 2020. As of November 30, 2019, the company had 6,928,675 shares outstanding (excluding treasury shares) and 2,069,633 shares in treasury.
Gun Ei Chemical Industry Co., Ltd. is a chemical manufacturer. The Company operates in three business segments. The Chemical segment manufactures and sellsindustrial phenolic resin (relay top), caking additive for castings, resin for electronic materials, high performance fiber, spherical resin and bisphenol F. The Food segment offers produces and sells isomerized sugars, glucose, water syrup, oligosaccharides (Guneioligo Puretos) and cereal syrup. The Real Estate Utilization segment is involved the real estate leasing business.