JINUSHI Co.,Ltd. announces an Equity Buyback for 1,843,000 shares, representing 10.08% for ¥3,500 million.
August 10, 2023 at 03:30 am EDT
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JINUSHI Co.,Ltd. (TSE:3252) announces a share repurchase program. Under the program, the company will repurchase up to 1,843,000 shares, representing 10.08% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,500 million. The shares will be repurchased at a price of ¥1,899 per share.
The purpose of the program is to mitigating the impact on business and improving capital efficiency. The repurchases will be made from company's own funds. As of June 30, 2023, the company has 18,285,659 issued shares (excluding treasury stock) and 141 treasury shares.
Jinushi Co Ltd is primarily engaged in real estate business. The Company operates in four business segments. The Real Estate Investment segment sells the real estate investments developed by the Company to funds, investors and others. It acquires lands, leases to tenants, and then sells to companies, individuals, private funds and real estate investment trusts as investment products that can bring stable profits. The Sublease, Lease and Fund Fees segment is engaged in sublease business, which rents lands from owners and then subleases to tenants, lease business, which leases properties owned by the Company to generate stable rental incomes, and fund fees business, which provides real estate management and others. The Planning and Brokerage segment provides consulting and real estate brokerage. The Others segment engages in overseas private finance initiative (PFI) business, management of golf courses and other entertainment business.