EDION Corporation announces an Equity Buyback for 5,000,000 shares, for ¥6,000 million.
June 29, 2021 at 02:00 am EDT
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EDION Corporation (TSE:2730) announces a share repurchase program. Under the program, the company will repurchase 5,000,000 shares, representing 4.66% of the outstanding shares for ¥6,000 million. The purpose of the program is to improve shareholder returns and to implement a flexible capital policy through improving capital efficiency. The program will run until December 31, 2021. As of May 31, 2021, the company had 107,206,277 shares outstanding and 4,799,359 shares in treasury.
EDION Corp is a Japan-based company mainly engaged in the sale of home electric appliances, and the operation of home electronics mass retailers from Hokkaido to Okinawa. The Company is engaged in the sale of home appliances through directly managed stores, mobile phone specialty stores, mail-order stores and franchise stores. The other business is involved in the operation of software specialty stores, the operation and development of information systems, the sale and construction of solar power generation systems, home remodeling, the purchase and sale of used information and communication equipment, and processing and sale of useful metals, the sale of office supplies, daily necessities, the sale of alcoholic beverages, the management of a professional soccer team, as well as the operation of programming classes.
EDION CORPORATION 
