Sumitomo Densetsu Co.,Ltd. announces an Equity Buyback for 250,000 shares, representing 0.71% for ¥956.25 million.
May 09, 2024 at 03:00 am EDT
Share
Sumitomo Densetsu Co.,Ltd. (TSE:1949) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 0.71% of its issued share capital (excluding treasury stock for ¥956.25 million. The shares will be repurchased at a price of ¥3,825 per share.
The purpose of the program is improve capital efficiency and implementing agile capital policies in response to changes in the business environment. As of March 31, 2024, the company had 35,416,219 shares in issue (excluding treasury stock) and 219,660 shares in treasury.
Sumitomo Densetsu Co Ltd is a Japan-based company mainly engaged in the equipment work business. The Company provides electric power supply work, general electric work, information communication work, plant and air conditioning work and other equipment work, as well as related engineering services. The electric power supply work is mainly engaged in the design, construction and supervision of transmission and distribution equipment. The general electric work is engaged in the design, construction and supervision of electrical installation work and environment related work. The information communication work is engaged in the design, construction and supervision of telecommunication equipment work. The plant and air conditioning work is engaged in the design, construction and supervision of plants and air conditioning sanitary tubes. The Company is also engaged in the insurance agency business, the manufacture and repair of equipment, and the manufacture and sale of water heaters.
SUMITOMO DENSETSU CO.,LTD. 
