Sukegawa Electric Co., Ltd. announces an Equity Buyback for 240,000 shares, representing 3.96% for ¥172.56 million.
September 19, 2017 at 03:10 am EDT
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Sukegawa Electric Co., Ltd. (JASDAQ:7711) announces a share repurchase program. Under the program, the company will repurchase 240,000 shares, representing 3.96% of the outstanding shares, at ¥719 per share for ¥172.56 million. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. As of September 19, 2017, the company had 6,067,787 shares outstanding and 642,213 shares in treasury.
SUKEGAWA ELECTRIC CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of electric machinery equipment, precision machinery equipment, metal-surface treatment products and food products. The Company operates in two business segments. The Energy-related segment is engaged in the manufacture and sale of products used in temperature control-related equipment in nuclear and thermal power plants, and safety certification testing equipment in research institutes. The Industrial System-related segment is engaged in the manufacture and sale of products used in steel, automobile, semiconductor and liquid crystal manufacturing devices. The Company is also engaged in the operation of restaurants, as well as the manufacture and sale of health supplements.
SUKEGAWA ELECTRIC CO., LTD. 
