JAPAN POWER FASTENING CO.,LTD. [5950.T]
TOKYO, Jun 15 (Pulse News Wire) – Japan Power Fastening CO.,LTD. (5950.T) completed its share repurchase program through the ToSTNeT-3 system on June 15, acquiring a total of 500,000 shares at a price of ¥140 per share, amounting to ¥70 million.
The repurchase was aimed at enhancing capital efficiency and aligning with changes in the operating environment, particularly to meet listing maintenance criteria by converting non-circulating shares into circulating ones. As a result of this repurchase, the company's major shareholder, Mr. Tsuhiba Yuji (company board advisor), saw his holding decrease from 15,040 shares, representing 10.55% percent of total outstanding shares, to 7.30% shares, now accounting for 7.30% percent.
This adjustment reflects the reduction in total outstanding shares due to the repurchased shares. The company confirmed that the repurchase adheres to the standards set forth in the resolution made during the June 12 board meeting, which authorized up to 550,000 shares, equivalent to 3.85% percent of the total outstanding shares excluding treasury stock, with a total acquisition value cap of ¥77 million. No significant impact on the company’s performance is anticipated from this shareholder movement.
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