Media Kobo, Inc. announces an Equity Buyback for 500,000 shares, representing 4.61% for ¥280 million.
April 17, 2017 at 02:00 am EDT
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Media Kobo, Inc. (TSE:3815) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 4.61% of the outstanding shares for ¥280 million. Shares will be repurchased by discretionary account transaction. The purpose of the program is to improve shareholder returns, activate company business activities, enhance capital efficiency and implement a flexible capital policy. The program will run until May 19, 2017. As of April 7, 2017, the company had 10,893,124 shares outstanding and 460,876 shares in treasury.
Media Kobo Inc is a Japan-based company mainly engaged in digital contents business. The Company operates through four business segments. Digital Contents segment is a one-to-n service business that plans, produces, and distributes fortune-telling appraisals and article content aimed at women for its own Website, Internet service provider (ISP), mobile carriers, and platforms such as Apple and Google. One to One segment is a one-to-one service business that features two-way communication that connects users and fortune tellers directly by phone. XR segment plans and produces services that utilize real-time live-action stereoscopic video shooting technology. SNS segment is engaged in the operation and service planning of social platforms.