Avex Inc. announces an Equity Buyback for 2,700,000 shares, representing 6.18% for ¥3,000 million.
December 28, 2020 at 01:00 am EST
Share
Avex Inc. (TSE:7860) announces a share repurchase program. Under the program, the company will repurchase up to 2,700,000 shares, representing 6.18% of its share capital, for ¥3,000 million. The company will use the funds obtained from the sale of the fixed assets for investment for business growth and return to shareholders. The purpose of the program is to improve shareholder's value. The program will expire on January 29, 2021. As of September 30, 2020, the company had 43,665,698 shares in issue (excluding treasury stock) and 1,677,802 shares in treasury.
AVEX Inc., formerly AVEX GROUP HOLDINGS INC., is a Japan-based holding company that operates in four business segments. The Music segment is engaged in the design, production and sale of music contents, the music distribution and publishing businesses, the management of artist talents, merchandising business, the operation of fan clubs, as well as the plan, production and operation of concert events. The Animation segment is engaged in the distribution of images, the design, production and sale of image contents, as well as the movie distribution businesses. The Digital segment is enagegd in the planning, production, sales and distribution of digital contents. The Overseas segment is engaged in the planning, production and sales of entertainment contents. The company also conducts venture investment business.
AVEX INC. 
