Dai Nippon Printing Co., Ltd. announces an Equity Buyback for 20,000,000 shares, representing 8.31% for ¥50,000 million.
March 08, 2024 at 01:00 am EST
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Dai Nippon Printing Co., Ltd. (TSE:7912) announces a share repurchase program. Under the program, the company will repurchase up to 20,000,000 shares, representing 8.31% of its issued share capital (excluding treasury stock), for a total purchase price of ¥50,000 million. The purpose of the program is to improve capital efficiency, return profits to shareholders, and enable future flexible capital policies.
The program will be valid till September 30, 2024. As of February 29, 2024, the company had 240,600,395 shares outstanding (excluding treasury shares) and 51,639,951 shares in its treasury.
Dai Nippon Printing Co. specializes in printing services. Net sales break down by activity as follows:
- printing of cards, books and business documents (54.1%): microchips, plastic cards, books, magazines, catalogs, administrative forms, brochures, indices, etc.;
- printing of flexible packages and decorative coatings (28.2%): bags, bottles, cardboard boxes, paint papers, wood and metal engraved plates, etc. The group also produces and sells optic films, ink ribbons, etc.;
- manufacturing of electronic components (13.7%): semiconductors components, photolithography masks, projection screens, protection filters for screens, color printers components, etc.;
- production of beverages (4%).
Net sales are distributed geographically as follows: Japan (83%), Asia (10.6%) and other (5.4%).