Sanko Techno Co., Ltd. announces an Equity Buyback for 222,000 shares, representing 2.74% for ¥198.91 million.
December 16, 2020 at 02:00 am EST
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Sanko Techno Co., Ltd. (TSE:3435) announces a share repurchase program. Under the program, the company will repurchase up to 222,000 shares, representing 2.74% of its share capital for ¥198.91 million. The shares will be repurchased at ¥896 per share. The purpose of the program is to improve capital efficiency and implement agile capital policies in response to changes in the business environment. The program will expire on December 17, 2020. As of November 30, 2020, the company had 8,088,365 shares outstanding (excluding treasury shares) and 657,043 shares in treasury.
SANKO TECHNO CO., LTD. is a Japan-based company principally engaged in fastening business and functional materials business. The Company operates in two business segments. Fastening segment is mainly involved in the manufacture and sale of post-installed anchor, drills and fasteners. The segment also conducts construction management related to construction of earthquake-resistant reinforcement business, maintenance and conservation business, as well as solar related business. Functional Materials segment is involved in the manufacture and sale of sheets made of fiber-reinforced plastics (FRP), electric hydraulic tools, measuring instruments, as well as electronic printed circuit boards for display boards and observation machines of vehicles, among others.