Okamoto Machine Tool Works, Ltd. announces an Equity Buyback for 450,000 shares, representing 10.18% for ¥1,836 million.
May 15, 2018 at 07:10 am EDT
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Okamoto Machine Tool Works, Ltd. (TSE:6125) announces a share repurchase program. Under the plan, the company will repurchase up to 450,000 shares, representing 10.18% of its issued share capital at a price of ¥4,080 per share for ¥1,836 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. As of March 31, 2018, the company had 4,422,150 shares outstanding and 295,745 shares in treasury.
OKAMOTO MACHINE TOOL WORKS,LTD. is a Japan-based company primarily engaged in the manufacture and sale of machine tools and semiconductor related equipment. The Company operates in two business segments. The Machine Tools segment is engaged in the manufacture and sale of grinding machines, such as precision surface grinders, rotary surface grinders, precision forming grinders, cylindrical grinders, inner grinders, center hole grinders, gear grinders, grindstones and grinding fluid products, as well as gear equipment, gears and castings. The Semiconductor Related Equipment segment is engage in the manufacture and sale of processing and grinding machines for semiconductors and electronic components, glass substrate polishing machines, back grinders, polishing machines, lapping machines, slicing machines, and solar cell ingot compound grinding machines.
OKAMOTO MACHINE TOOL WORKS, LTD. 
