Azuma Shipping Co., Ltd.'s Equity Buyback in the amount of ¥125 mm has expired
November 29, 2012 at 11:00 pm EST
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The Board of Directors of Azuma Shipping Co., Ltd. (TSE:9380) authorized a share repurchase program on December 19, 2011. Under the program, the company will repurchase up to 500,000 shares representing 1.73% of total outstanding shares, excluding treasury shares. The repurchase amounts to ¥125 million. The repurchases will be based on the provision of articles of incorporation from the regulations of Article 165 paragraph 2 of Japan's Corporate Law. The repurchase program will enable the company to implement a flexible capital policy corresponding to changes in the business environment. The repurchases will commence on December 20, 2011, and will end on November 30, 2012. As of November 30, 2011, the company has 28,912,400 shares outstanding, excluding treasury shares and has 10,600 shares in treasury.
Azuma Shipping Co., Ltd.'s share repurchase program expired on November 30, 2012.
Azuma Shipping Co., Ltd., a Japan-based company mainly engaged in logistics business, sea freight business and real estate business. The Logistics segment is involved in the port cargo handling, warehousing, storing, clearance and international intermodal transportation business. This segment is also engaged in the provision of cargo transportation services via general freight automobiles, large-sized trailers and bulk cement trucks, the container transportation, car ferry transportation and moving services, as well as the storage, transportation, packing, loading and unloading of cargoes. The Sea Freight segment is engaged in the products transportation, domestic and overseas shipping of plasters, limestone and coal ashes. The Real Estate segment is involved in property leasing.