Star Micronics Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 0.81% for ¥600 million.
January 10, 2018 at 01:00 am EST
Share
Star Micronics Co. Ltd. (TSE:7718) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 0.81% of its issued share capital excluding treasury shares, for a total consideration of ¥600 million. The purpose of the repurchase program is to implement flexible capital policies that meet the changes in business environment as well as improve capital efficiency, upgrading and expanding the return of profits to shareholders. The repurchased shares will be retired. The repurchase program will expire on February 21, 2018. As of December 31, 2017, the company had 37,060,338 shares in issue, excluding treasury stock and had 9,972,896 shares held in treasury.
STAR MICRONICS CO.,LTD. is a Japan-based company centered on manufacturing and assembly of small sized precision components and equipment. The Company operates in three segments. The Special Products segment is engaged in manufacturing and sales of small printers. The Machine Tools segment is engaged in manufacturing and sales of machine tools like computerized numerical control (CNC) automatic lathes. The Precision Products segment is engaged in manufacturing and sales of wristwatch components and various components used in automobiles, air conditioners, hard disk drives (HDD) and medical. The Company operates in Japan, the United States, China, Germany, etc.