Daito Koun Co., Ltd. announces an Equity Buyback for 330,000 shares, representing 3.71% for ¥187.77 million.
August 05, 2019 at 03:30 am EDT
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Daito Koun Co., Ltd. (JASDAQ:9367) announces a share repurchase program. Under the program, the company will repurchase 330,000 shares, representing 3.71% of the outstanding shares, at ¥569 per share for ¥187.77 million. The purpose of the program is to enhance capital efficiency and enable the implementation of a flexible capital policy in response to changes in the business environment. As of July 31, 2019, the company had 8,897,754 shares outstanding and 491,246 shares in treasury.
DAITO KOUN CO., LTD. is principally engaged in imported and exported cargo handling business and steel logistics business. The Company operates in three business segments. The Imported and Exported Cargo Handling segment engages in the customs clearance, transportation and storage of imported and exported goods such as food, steel and nonferrous metals, chemical industrial goods, machineries and daily goods. The Steel Logistics segment engages in cargo handling, storage and delivery of domestic steel products. The Other segment engages in harbor transportation, other domestic logistics operations, warehousing operations, real estate leasing and others.
DAITO KOUN CO.,LTD. 