BEENOS Inc. announces an Equity Buyback for 1,000,000 shares, representing 7.73% for ¥800 million.
March 19, 2020 at 03:40 am EDT
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BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 7.73% of its issued share capital, for total worth of ¥800 million. The purpose of the share repurchases is to pursue a timely and flexible capital policy in response to changes in the operating environment. The program is valid till April 30, 2020. As of March 19, 2020, the company has 12,939,210 issued shares (excluding treasury stock) and 396,785 shares in treasury.
BEENOS Inc, formerly netprice.com, Ltd., mainly operates mail-order sales business. It has two segments. The E-commerce segment operates business through three business divisions. The Gathering division is engaged in the mail-order sales through personal computers (PCs), cell phones and smart phones. The Value Cycle division is involved in the purchase, maintenance and sale of secondhand brand-name products, watches, accessories and others. The Cross Boarder division is engaged provision of services making overseas products available for purchase for Japanese clients. The Incubation segment is involved in the provision of Japan products overseas forwarding services, the production of talent licensed products, and the marketing and promotion business focusing on smart phones.
BEENOS INC. 
