Shima Seiki Mfg.,Ltd. announces an Equity Buyback for 1,000,000 shares, representing 2.82% for ¥3,000 million.
October 31, 2019 at 02:10 am EDT
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Shima Seiki Mfg.,Ltd. (TSE:6222) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing 2.82% of its share capital, for ¥3,000 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency. The program will run until February 28, 2020. As of September 30, 2019, the company had 35,511,397 shares outstanding (excluding treasury shares) and 1,088,603 shares in treasury.
SHIMA SEIKI MFG., LTD. is a Japan-based company mainly engaged in the manufacture and sale of flat knitting equipment, design systems, gloves and socks knitting equipment. The Company operates in three business segments. The Flat Knitting Equipment segment is engaged in the manufacture and sale of computer flat knitting equipment and semi jacquard flat knitting equipment. The Design Systems Related segment is engaged in the manufacture and sale of computer design systems, as well as apparel computer-aided design (CAD) and computer-aided manufacturing (CAM) systems. The Gloves and Socks Knitting Equipment segment is engaged in the manufacture and sale of seamless gloves and socks knitting equipment. The Company is also engaged in the manufacture, sale and trading of textile materials, the planning, manufacture and sale of textile products, the operation of hotels, the manufacture and sale of knitting equipment and design system parts, as well as the repair and maintenance business.
SHIMA SEIKI MFG.,LTD. 
