The Miyazaki Bank, Ltd. closed an Equity Buyback in the amount of ¥1622.15 mm
July 11, 2013 at 12:00 am EDT
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The Board of Directors of The Miyazaki Bank, Ltd. (TSE:8393) authorized a share repurchase program on May 10, 2013. Under the program, the company will repurchase up to 5,300,000 shares, representing 3.01% of outstanding shares for ¥1.7 billion. Repurchases will be made pursuant to the provisions of the articles of incorporation under the provisions of Article 165, paragraph 2 of the Companies Act. The company will make repurchases from May 13, 2013 to October 31, 2013. As of March 31, 2013, the company has 176,122,478 outstanding shares and holds 211,522 shares under treasury.
The Miyazaki Bank, Ltd. completed its share repurchase program on July 11, 2013. Under the program, the company has repurchased 5,300,000 shares, representing 3.01% for ¥1.62 billion.
The Miyazaki Bank, Ltd. is a Japan-based bank focusing on banking services and mainly engaged in the financial services include leasing business, credit guarantee services and credit card business. The Bank mainly operates in two segments. The Banking segment is engaged in the deposit and loan services and currency exchange business. The Leasing segment is engaged in the general leasing services. Other businesses include corporate stock and bond investment services, management consulting services, credit guarantee services such as mortgage loan as well as credit card business.