First-corporation Inc. announces an Equity Buyback for 1,000,000 shares, for ¥700 million.
May 25, 2020 at 11:00 pm EDT
First-corporation Inc. (TSE:1430) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing 7.49% of its share capital, for ¥700 million. The company will repurchase its shares in order to improve capital efficiency and enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until May 31, 2021. As of April 30, 2020, the company had 13,358,509 shares outstanding (excluding treasury shares) and 31 shares in treasury.