Lonseal Corporation announces an Equity Buyback for 2,300,000 shares, representing 4.8% for ¥300 million.
May 12, 2016 at 03:17 am EDT
Lonseal Corporation (TSE:4224) announces a share repurchase program. Under the plan, the company will repurchase up to 2,300,000 shares, representing 4.8% of its outstanding shares excluding treasury shares, for a total of ¥300 million. The purpose of the repurchase program is to improve shareholder returns, enhance capital efficiency and implement a flexible capital policy corresponding to changes in the business environment. The shares will be repurchased till September 23, 2016. As of March 31, 2016, the company had 47,911,098 shares outstanding excluding treasury shares and had 341,996 shares in treasury.