KING Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 1.65% for ¥170.4 million.
November 06, 2019 at 02:30 am EST
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KING Co., Ltd. (TSE:8118) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.65% of its share capital, at ¥568 per share for ¥170.4 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, along with aiming to improve capital efficiency. As of November 6, 2019, the company had 18,235,453 shares outstanding (excluding treasury shares) and 6,536,108 shares in treasury.
KING Co., Ltd. is a Japan-based company mainly involved in fiber products business. The Company has two business divisions. The Apparel division is involved in the wholesale of ladies apparels, fashion goods, apparel accessories, promotion materials, the planning, sale, logistics and clerical work agency businesses, as well as the sale of apparel store promotion items. The Textile segment is involved in the wholesale of textile products, through its subsidiary.