Meitec Corporation announces an Equity Buyback for 440,000 shares, representing 1.59% for ¥2,000 million.
October 28, 2020 at 10:30 pm EDT
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Meitec Corporation (TSE:9744) announces an share repurchase program. Under the program the company will repurchase 440,000 shares, representing 1.59% of the outstanding shares for ¥2,000 million. The purpose of the program is to repurchase shares in accordance with the basic policy regarding profit sharing. The program will run until January 29, 2021. As of September 30, 2020, the company had 27,600,152 shares outstanding and 1,399,848 shares in treasury.
Meitec Group Holdings Inc, formerly Meitec Corp, is a Japan-based company mainly engaged in the engineering solutions business and engineer introduction business. The Company operates in two business segments. The Engineering Solutions business segment is engaged in the provision of engineering solution services with a focus on engineer dispatch services. This segment includes high-end engineer dispatching business, middle-range engineer dispatching business, senior engineer dispatching business, registered staffing business whose main customers are the manufacturing industry, and general outsourcing business. The Engineer Introduction business segment is engaged in the employment placement business for engineers.
MEITEC GROUP HOLDINGS INC. 
