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Sumitomo Bakelite Co., Ltd. ( (JP:4203) ) just unveiled an announcement.
Sumitomo Bakelite Co., Ltd. has announced its decision to acquire up to 5.91% of its own shares, equivalent to 5,508,100 shares, through the Tokyo Stock Exchange’s off-auction trading system ToSTNeT-3. This strategic move aims to enhance shareholder returns and improve capital efficiency, with the acquisition costing up to 19.9 billion yen. The company also plans to cancel the treasury shares acquired, and despite a sale from its largest shareholder, Sumitomo Chemical Co., Ltd., the shareholder’s position remains unchanged.
More about Sumitomo Bakelite Co., Ltd.
Sumitomo Bakelite Co., Ltd. operates in the materials industry, with a focus on producing high-performance plastic products. The company is known for its innovations in the development and production of phenolic resins and other related materials, serving various sectors including automotive, electronics, and healthcare.
YTD Price Performance: 0%
Average Trading Volume: 525
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €2.15B
Learn more about 4203 stock on TipRanks’ Stock Analysis page.