Nippon Information Development Co., Ltd. announces an Equity Buyback for 260,000 shares, for ¥374.66 million.
August 17, 2021 at 03:30 am EDT
Share
Nippon Information Development Co., Ltd. (JASDAQ:2349) announces a share repurchase program. Under the program, the company will repurchase 260,000 shares, representing 2.28% of its share capital for ¥374.66 million. The shares will be repurchased at a price of ¥1,441 per share. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment and improve capital efficiency. As of March 31, 2021, the company had 11,355,731 shares outstanding (excluding treasury shares) and 1,753,759 shares in treasury.
Nippon Information Development Co., Ltd. is a Japan-based company mainly engaged in the embedded solution business, information and communication technology (ICT) innovation business, financial system business, network solution business and other businesses. The Company operates in five business segments. The Embedded Solutions segment is engaged in the development and design of embedded software to customers. The ICT Innovation Business is engaged in the design and development of communication systems for customers. The Financial Systems segment provides financial business software to customers in the fields of life and non-life insurance, credit and securities, information and services. The Network Solution segment provides services such as system construction, infrastructure construction, security services, system maintenance and operation. The Others segment is involved in three businesses including data solutions business, product business and staffing business.
NIPPON INFORMATION DEVELOPMENT CO., LTD. 
