Land Business Co.,Ltd. announces an Equity Buyback for 650,000 shares, representing 3.25% for ¥200 million.
November 10, 2020 at 01:00 am EST
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Land Business Co.,Ltd. (TSE:8944) announces a share repurchase program. Under the program, the company will repurchase 650,000 shares, representing 3.24% of its share capital, for ¥200 million. The company will repurchase its shares in order to improve the return of profits to shareholders and implement a flexible capital policy in response to changes in the business environment. The program will run until November 10, 2021. As of October 31, 2020, the company had 26,780,800 shares outstanding (excluding treasury shares) and 6,754,185 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.