Gokurakuyu Holdings Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 5.43% for ¥598 million.
November 15, 2018 at 02:23 am EST
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Gokurakuyu Holdings Co., Ltd. (JASDAQ:2340) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 5.43% of its share capital, at ¥598 per share for a ¥598 million. The company will repurchase its shares in order to implement a flexible capital policy which responds to changes in the business environment. As of September 30, 2018, the company had 18,412,900 shares outstanding (excluding treasury shares) and 917,675 shares in treasury.
GOKURAKUYU HOLDINGS CO., LTD. is a Japan-based company mainly engaged in the hot bath business. The Company operates through two regional segments. The Company is mainly engaged in the operation of large-scale hot bath facilities (super public baths) in Japan and overseas under the names GOKURAKUYU and RAKU SPA. The directly operated stores receive entrance fee income, food and beverage income, hairdressing income and merchandise sales income. The franchise stores receive merchandise sales income and royalty income related to super public bath management based on membership contracts. The Company is also engaged in the operation of soba and tempurameshi stores Kojimachi Baraku in Japan, as well as the operation of hotels in overseas.
GOKURAKUYU HOLDINGS CO., LTD. 
