Kobe Bussan Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 5.85% for ¥10,000 million.
July 21, 2015 at 02:21 am EDT
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Kobe Bussan Co., Ltd. (TSE:3038) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 5.85% of its outstanding shares (excluding treasury shares) for ¥10,000 million. The shares will be repurchased for improvement of shareholder value that can be achieved by implementing a flexible capital policy in response to changes in the business environment.
The shares will be repurchased in accordance with the provisions of articles of incorporation from the regulations of Article 165 Paragraph 2 of the Companies Act. The repurchase program will be valid till October 22, 2015. As of April 30, 2014, the company has 17,100,000 outstanding shares (excluding treasury shares) and 3,580,714 shares under treasury.
KOBE BUSSAN CO., LTD. is a Japan-based company mainly engaged in the manufacture, wholesale and retail of food ingredients for business use, as well as the franchise (FC) business, the restaurant business and the renewable energy business. The Company operates in four business segments. The Gyomu Super segment is engaged in the planning, development and procurement of products as the FC headquarters of Gyomu Super, as well as the production of food ingredients for business use. The Kobe Cook segment is engaged in the operation of directly managed stores and FC stores. The Cook Innoventure segment is engaged in the brand-powered business in sushi, izakaya, yakiniku, fast food and restaurant business categories, as well as the development of new stores and FC stores. The Eco-renewable Energy segment is engaged in the power generation business that uses renewable energy. The Company is also engaged in the facilities rental business, tourism business and galleon business.
KOBE BUSSAN CO., LTD. 
