Hamakyorex Co., Ltd. announces an Equity Buyback for 285,000 shares, representing 1.5% for ¥1,000 million.
March 16, 2020 at 02:00 am EDT
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Hamakyorex Co., Ltd. (TSE:9037) announces a share repurchase program. Under the program, the company will repurchase 285,000 shares, representing 1.5% of the outstanding shares for ¥1,000 million. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until September 30, 2020. As of February 29, 2020, the company had 19,005,285 shares outstanding and 6,715 shares in treasury.
HAMAKYOREX CO., LTD. is a Japan-based company mainly engaged in third-party logistics (3PL) concentrated on the logistics center business, as well as freight truck transportation businesses. The Company operates through two business segments. The Distribution Center segment is engaged in center operation business and center delivery business. In addition, the Lorry Trucking segment is engaged in general cargo transportation and special stack cargo transportation business.