Daiichikosho Co., Ltd. announces an Equity Buyback for 1,600,000 shares, representing 2.8% for ¥5,000 million.
August 07, 2020 at 02:30 am EDT
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Daiichikosho Co., Ltd. (TSE:7458) announces a share repurchase program. Under the program, the company will repurchase 1,600,000 shares, representing 2.8% of its share capital, for ¥5,000 million. The company will repurchase its shares in order to improve capital efficiency and return profits to shareholders. The program will run until March 31, 2021. As of August 7, 2020, the company had 57,234,200 shares outstanding (excluding treasury shares) and 1,331,212 shares in treasury.
DAIICHIKOSHO CO., LTD. is mainly involved in the entertainment business. The Company operates in three business segments. The Commercial Karaoke segment is engaged in the sale and leasing of karaoke machines for commercial use, the provision of audio and video contents for communication karaoke. The Karaoke and Restaurant segment is engaged in the operation of karaoke rooms and restaurants. The Music Software segment is involved in the production and sale of music and visual software. The others business is engaged in the background music broadcasting business, the provision of content services via cellular phone, and the real estate leasing business, among others.
DAIICHIKOSHO CO., LTD. 
