Kurimoto, Ltd. announces an Equity Buyback for 400,000 shares, representing 3.18% for ¥700 million.
November 04, 2019 at 11:40 pm EST
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Kurimoto, Ltd. (TSE:5602) announces a share repurchase program. Under the program, the company will repurchase 400,000 shares, representing 3.18% of its share capital, for ¥700 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, and enhance shareholder returns. The program will run until March 24, 2020. As of October 31, 2019, the company had 12,571,378 shares outstanding (excluding treasury shares) and 827,112 shares in treasury.
Kurimoto, Ltd. is a Japan-based company mainly engaged in the manufacture and sale of products for pipe system business, mechanical system business and industrial construction materials business. The Company operates through three business segments. The Pipe System segment is involved in the production of ductile iron pipes and accessories, regulating valves, as well as the incidental work. The Machine System segment is involved in the production of various powder equipment, presses and other industrial machines, special cast iron and cast steel, as well as the incidental construction and plant engineering business. The Industrial Construction Materials segment is involved in the production of various types of ducts, polycon fiber reinforced plastic (FRP) pipes, various synthetic resin molded products, as well as the incidental construction business.
KURIMOTO,LTD. 
