Hachi-Ban Co., Ltd. announces an Equity Buyback for 2,000,000 shares, representing 12.47% for ¥1,202 million.
July 28, 2016 at 03:55 am EDT
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Hachi-Ban Co., Ltd. (JASDAQ:9950) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 12.47% of its issued share capital, at ¥601 per share for ¥1,202 million. Shares will be repurchased in the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the program is to implement a flexible capital policy corresponding to changes in the business environment. As of July 27, 2016, the company had 16,037,567 shares outstanding and 2,991 shares in treasury.
HACHI-BAN CO., LTD. is a Japan-based company mainly engaged in the restaurant business. The Company operates in three business segments. The Restaurant segment manufactures raw Chinese noodles, ramen sauce and frozen dumplings, manages the Hachi-ban Ramen franchise chain headquarters, and operates ramen shops and Japanese restaurants. The External Sales segment sells Chinese raw noodle products and raw frozen dumplings. The Overseas segment conducts the import and export and sales of food based on restaurant franchise chain area licensing agreements outside Japan.
HACHI-BAN CO., LTD. 