PENTA-OCEAN CONSTRUCTION CO.,LTD. [1893.T]
TOKYO, May 08 (Pulse News Wire) – Penta-ocean Construction CO.,LTD. (1893.T) announced today that its board of directors, held on May 08, 2026, approved a share repurchase program based on Article 165(3) of the Companies Act.
The primary reasons for the buyback include strengthening the company's capital base and enhancing shareholder value through increased investment in technology development and equipment upgrades. Additionally, the move seeks to bolster dividend payouts and improve capital efficiency. Under the plan, up to 3,600,000 shares of common stock will be purchased, representing 1.3% of the outstanding shares excluding treasury shares.
The total amount allocated for the repurchase is capped at ¥5 billion. The repurchase period runs from May 11, 2026, to July 31, 2026, and will take place via open-market purchases on the Tokyo Stock Exchange. As of March 31, 2026, the company had 273,083,661 shares outstanding, excluding treasury shares, and held 12,930,249 treasury shares.
Notably, 871,700 of these treasury shares are held by a stock grant trust (BBT).
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