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Nippon Kayaku suspends buyback, announces new acquisition, cancels shares

March 28, 2025 at 12:05 PM UTCBy FilingReader AI

Nippon Kayaku (TSE: 4272) announced a series of strategic moves concerning its treasury stock, signaling a refined approach to shareholder returns and capital efficiency. First, the company suspended its ongoing share buyback program, approved November 11, 2024, effective immediately until April 11, 2025. Simultaneously, the board authorized a new acquisition of up to 14 million of its own shares, representing 8.76% of outstanding shares (excluding treasury stock), for a maximum of ¥17 billion. This buyback will commence April 14, 2025, and extend through March 31, 2026, executed via open market purchases on the Tokyo Stock Exchange. The company intends to cancel the shares acquired under the new buyback. The specific number of shares to be cancelled and timing will be disclosed after the completion of the acquisition. In related news, Nippon Kayaku also announced a change in executive leadership. Current president Atsuhiro Wakumoto will step down to become a consultant, while Shigeuki Kawamura will become representative director and president effective June 26, 2025. Concurrently, Hirofumi Shimada will become representative director and executive officer. These changes, together with the treasury stock actions, indicate a comprehensive restructuring aimed at improving corporate value and ensuring shareholder value enhancement.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

TSE:4272Tokyo Stock Exchange

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