Autobacs Seven Co., Ltd. announces an Equity Buyback for 2,800,000 shares, representing 3.39% for ¥5,000 million.
January 31, 2019 at 01:00 am EST
Share
Autobacs Seven Co., Ltd. (TSE:9832) announces a share repurchase program. Under the program, the company will repurchase 2,800,000 shares, representing 3.39% of the outstanding shares for ¥5,000 million. The purpose of the program is to enhance capital efficiency and strengthen shareholder returns. The program will run until June 20, 2019. As of December 31, 2019, the company had 82,543,040 shares outstanding and 1,507,065 shares in treasury.
Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
