Sanyo Special Steel Co., Ltd. announces an Equity Buyback for 1,730,000 shares, representing 3.08% for ¥3,000 million.
June 19, 2019 at 12:00 am EDT
Share
Sanyo Special Steel Co., Ltd. (TSE:5481) announces a share repurchase program. Under the program, the company will repurchase 1,730,000 shares, representing 3.08% of the outstanding shares for ¥3,000 million. The purpose of the program is to strengthen shareholder returns and enhance capital efficiency. The program will run until December 23, 2019. As of March 31, 2019, the company had 56,225,141 shares outstanding and 1,212,166 shares in treasury.
Sanyo Special Steel Co., Ltd. is a Japan-based company mainly engaged in the steel, special material and forging businesses. The Company has three business segments. The Steel segment is engaged in the manufacture and sale of bearing steel, steel for machine architecture, stainless steel, heat-resistant steel and tool steel, among others. The Power segment is engaged in the manufacture and sale of metal powder products. The Forging segment is engaged in the manufacture and sale of forging products made from special bar steel and steel pipes. The Company is also involved in the provision of support services for business operation, such as information processing, security and facility management services.
SANYO SPECIAL STEEL CO., LTD. 
