Toyo Kanetsu sets ¥2.0bn buyback worth up to 5.8% of stock
Toyo Kanetsu approved a buyback of up to 900,000 shares, equal to 5.8% of shares outstanding excluding treasury stock, with spending capped at ¥2.0bn. The programme runs from July 1 to Sept. 18 through market purchases under a discretionary trading contract, which is clear enough even if the company is not obliged to use the full amount.