Fukuda Denshi keeps on buying back shares like there is no tomorrow.
June 1, 2012 22:21
Fukuda Denshi Co., Ltd. <6960, Stock Price Chart - Overview -> Company has continued to rise, there was a scene to be bought up to 2,460 yen 93 yen of one o'clock. After the close on May 31, 2367 closing price in yen on May 31, announced to perform share buybacks of 1,000,000 shares (5.11% of the number of shares outstanding) in the Osaka Securities Exchange J-NET market on June 1 was a good feeling. The company announced at 10 am on June 1, and obtained 607,500 shares in the market J-NET. The number of own shares, including stock-minute benefit trust was 4,199,035 shares (21.4% of the number of shares outstanding) of this acquisition. Stock price at the time of 12 minutes, 1 pm is 2424 yen 57 yen's appreciation.
Quelle:http://jp.news.moneycentral.msn.com/ticker/article.aspx?symbol=JP:6960&feed=MCIntl&date=20120601&id=15174400
I lost oversight of how much they have been buying back since I am involved (december 2010). But it is (more than) significant. There isn't unnecessary transparency from management about Fukuda Denshi's intention regarding there huge pile of treasury stocks. They even don't bother anymore having a press release on there english internet page. And the pdf- file on there japaneses page has got a copy protection, so it's impossible (at least for me) to copy and paste the note in google translator; although the translation would be very likely incomprehensible anyway, as google translator doesn't work very well with japanese.
Where the 607'500 shares coming from for the latest share buy-back in such an illiquide stock? No idea.
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