On the 14th, Shinko Kogyo (6458) announced matters relating to share repurchases based on the provisions of section 156 of the same law, which is reread and applied by the provisions of section 165 (3) of the Companies Act.
The company has set “significant strengthening of shareholder returns” as one of the capital and financial strategies in the medium-term management plan “move.2027,” which will begin from the current fiscal year, and plans to carry out treasury stock acquisitions up to 10 billion yen over 5 years from the fiscal year ending 2025/3 to the fiscal year ending 2029/3.
The total number of shares to be acquired is 1,200,000 shares (upper limit) (4.80% of the total number of issued shares), and the total acquisition price of shares is 3,300,000,000 yen (upper limit). The acquisition period is 2024/5/15 to 2025/3/31, and the acquisition method is market purchase at the Tokyo Stock Exchange (including 90,000 shares (upper limit) purchased through an off-site share purchase transaction (ToSTNet-3)).