Araya Industrial Co., Ltd. closed an Equity Buyback in the amount of ¥48.35 mm
December 13, 2012 at 11:00 pm EST
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The Board of Directors of Araya Industrial Co., Ltd. (TSE:7305) authorized a share repurchase program on November 22, 2012. Under the program, the company will repurchase up to 400,000 shares, representing 0.71% of its issued share capital, for a total cost of up to ¥50 million. The purpose of the repurchase program is to pursue an agile capital strategy responsive to changes in the business environment. The plan will commence on November 26, 2012 and will continue until December 21, 2012. As of October 31, 2012, the company has 55,974,709 shares outstanding and 4,478,559 shares held in treasury.
Araya Industrial Co., Ltd. completed the share repurchase program on December 14, 2012. Under the program, the company has repurchased 400,000 shares, representing 0.71% for ¥48.35 million.
ARAYA INDUSTRIAL CO., LTD. is a Japan-based company mainly engaged in steel pipe-related business, bicycle-related business, and real estate rental business. The Company operates through three business segments. The Steel Pipe-related business is engaged in the manufacture and sale of ordinary steel pipes, stainless steel pipes, various types of steel, precision processed products, and other products. It is also engaged in the manufacture and sale of agricultural houses, facility materials and agricultural foils. The Bicycle business is engaged in the manufacture and sale of bicycle rims and import and sale of completed bicycles. The Real Estate Rental business is engaged in the leasing of real estate such as land, buildings and warehouses. It is also engaged in the manufacture and sale of mechanical parts and welfare equipment, and non-life insurance agency.