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Sekisui Chemical buys back 7 million shares

Japanese high-performance plastics producer Sekisui Chemical Co. Ltd. said June 13 that it repurchased 7,000,000 common shares for ¥12.87 billion.

This came a day after the company disclosed its intention to repurchase the shares for ¥1,838 each, based on the June 12 closing price.

Sekisui's board on April 26 approved the share buyback plan for a maximum of 8,000,000 shares, or 1.69% of the total outstanding shares, at a total cost of up to ¥16 billion. The repurchasing period was scheduled from April 27 to March 29, 2019.

As of June 12, US$1 was equivalent to ¥110.21.