Best Toyota Co., Ltd. announces an Equity Buyback for 207,633 shares, for KRW 18,920.56 million.
March 08, 2017 at 11:06 pm EST
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Best Toyota Co., Ltd. announces a share repurchase program. Under the program, the company will repurchase up to 207,633 shares, at a price of KRW 91,125 per share for a total of KRW 18,920.56 million. The repurchases will be made in an off-market transaction from LS Networks Corporation Limited. The repurchased shares will be retired for the purpose of reduction in share capital. The share repurchase program is valid until April 12, 2017.
LS Networks Corporation Limited is a Korea-based company engaged in the brand, distribution and leasing business. The Company operates in four business segments: brand segment, which distributes sportswear, outdoor apparels, shoes and others under the brand name PROSPECS, SKECHERS, MONT-BELL, Jack Wolfskin and others; distribution segment, which provides TOYOTA automobiles and maintenance services, as well as distributes imported bicycles and motorcycles; leasing segment, which engages in the leasing of office buildings and warehouses, and other segment, which engages in the fruits import agent business. The Company distributes its products within domestic market and to overseas markets. On May 1, 2013, the Company divested its Toyota dealer business into a newly established wholly owned subsidiary. On September 1, 2013, it merged with its wholly owned subsidiary, which is mainly engaged in the food sales.
LS NETWORKS CORPORATION LIMITED 
