GungHo Online Entertainment, Inc. announces an Equity Buyback for 2,800,000 shares, representing 4.52% for ¥5,000 million.
February 14, 2023 at 01:05 am EST
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GungHo Online Entertainment, Inc. (TSE:3765) announces a share repurchase program. Under the program, the company will repurchase up to 2,800,000 shares, representing 4.52% of its issued share capital for ¥5,000 million. The purpose of the program is improving shareholder returns through implementing flexible capital policies and improving capital efficiency in response to changes in the business environment.
The repurchased shares will be cancelled. The program is valid till March 24, 2023. As of December 31, 2022, the company had 61,894,643 shares issued (excluding treasury stock) and 29,304,473 shares in treasury.
GungHo Online Entertainment Inc is a Japan-based company mainly engaged in the development of online games via the Internet. The Company is mainly engaged in the planning, development, operation and distribution of smartphone games. The main products in smartphone games are Puzzle & Dragons, Ragnarok M: Eternal Love, Puzzle Radar, Summons Board, Kerihime Sweets, Yokai Watch World, TEPPEN. The Company is also engaged in the planning, development, operation, distribution and sale of consumer game software for home-use game consoles and portable game consoles, the production of game software, as well as the sale of products to customers through wholesale trading companies, retail stores and content distributors.