Yamaichi Electronics Co.,Ltd. announces an Equity Buyback for 400,000 shares, for ¥700 million.
May 27, 2022 at 02:00 am EDT
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Yamaichi Electronics Co.,Ltd. (TSE:6941) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 1.89% of its share capital, for ¥700 million. The company will repurchase its shares in order to return profits to shareholders by implementing agile capital policies and improving capital efficiency in response to changes in the business environment.
The share repurchase program will run until September 30, 2022. As of March 31, 2022, the company had 21,136,490 shares outstanding (excluding treasury shares) and 2,193,285 shares in treasury.
YAMAICHI ELECTRONICS CO., LTD. is mainly engaged in the manufacture and sale of integrated circuit (IC) sockets and structure components. The Test Solution segment is involved in the provision of burn-in sockets, test sockets, probe pins, probe cards, as well as semiconductor test-related services. The Connector Solution segment is involved in the provision of various connectors and IC sockets for mounting use. The Optical-related segment offers filter products for optical equipment and optical communications. The Electronics Manufacturing Service (EMS) segment is engaged in the manufacture and sale of liquid-crystal-related components, as well as the assembling of printed boards for hard disc drives(HDD) and printers.