Land Business Co.,Ltd. announces an Equity Buyback for 2,000,000 shares, representing 8.32% for ¥750 million.
March 23, 2020 at 03:00 am EDT
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Land Business Co.,Ltd. (TSE:8944) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 8.32% of the outstanding shares, at ¥375 per share for ¥750 million. The purpose of the program is to improve shareholder returns and implement a flexible capital policy in response to changes in the business environment. As of February 29, 2020, the company had 24,051,615 shares outstanding and 2,729,185 shares in treasury.
LAND BUSINESS CO., LTD. is a Japan-based company mainly engaged in the real estate business, such as the development, trade, leasing, construction, design and construction supervision of real estate, as well as the related survey, plan and consulting businesses. The Company operates in two businesses. The leasing business is engaged in the leasing of real estate properties and the asset management outsourcing business. The real estate investment and others business is engaged in the investment of commercial real estate, such as office buildings and other real estate-related assets.