Micronics Japan Co., Ltd. announces an Equity Buyback for 880,000 shares, representing 2.22% for ¥1,000 million.
November 14, 2016 at 01:22 am EST
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Micronics Japan Co., Ltd. (TSE:6871) announces a share repurchase program. Under the program, the company will repurchase up to 880,000 shares, representing 2.22% stake, for a total cost of up to ¥1,000 million. Shares will be repurchased by market purchase. The purpose of the program is to implement a flexible capital policy and enable a financial strategy in response to changes in the business environment. The shares will be repurchased until December 22, 2016. As of September 30, 2016, the company had 39,679,672 shares outstanding and 345,644 shares in treasury.
MICRONICS JAPAN CO., LTD. is a Japan-based company mainly engaged in the development, manufacture and sale of semiconductor measuring instruments, as well as semiconductor and liquid crystal display (LCD) testing equipment. The Company operates in two business segments. The Probe Card segment develops, manufactures and sells semiconductor measuring instruments, and provides related maintenance service. The Testing Equipment (TE) segment develops, manufactures and sells LCD testing equipment and semiconductor testing equipment, and provides related maintenance service.