TOKYO KEIKI INC. announces an Equity Buyback for 100,000 shares, representing 0.6% for ¥85 million.
February 12, 2019 at 02:00 am EST
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TOKYO KEIKI INC. (TSE:7721) announces a share repurchase program. Under the program, the company will repurchase 100,000 shares, representing 0.6% of the outstanding shares for ¥85 million. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until February 28, 2019. As of December 31, 2018, the company had 16,531,559 shares outstanding and 544,880 shares in treasury.
TOKYO KEIKI INC. is a Japan-based company mainly engaged in the manufacture, sale and maintenance of hydraulic and pneumatic equipment, defense and communication equipment. It has four business segments. Defense and Communications Equipment business manufactures, sells and repairs defense equipment, marine transportation system equipment, road and tunnel measurement and automatic control equipment, and parts. Hydraulic and Pneumatic Equipment business manufactures, sells and repairs hydraulic and pneumatic equipment and parts. Port and Harbor Equipment business manufactures, sells and repairs marine equipment, adjusts charges, manages sales, and arranges after-sales services. Fluid Equipment business manufactures, sells, and repairs fluid measurement equipment and fire extinguishing equipment. It is engaged in the manufacture, sale and inspection of inspection equipment, as well as products packing, information processing business, software development, and factoring business.