Small but ubiquitous specialty condiments maker Ebara Foods Industry (2819 JP) sells ¥50bn of product a year. Three years ago, longtime CEO Morimura passed. His son is CEO now.
The company entered TSE1 in 2014 but despite meeting the requirements, it announced today it would seek listing on TSE Standard and not TSE Prime. A selldown looms.
Today, the company announced a buyback. The company has conducted 6 of them in 13 years so this is not unusual, but the method is, and the setup deserves attention.
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