Okuwa Co., Ltd. announces an Equity Buyback for 830,000 shares, representing 1.86% for ¥922.13 million.
July 03, 2019 at 03:30 am EDT
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Okuwa Co., Ltd. (TSE:8217) announces a share repurchase program. Under the program, the company will repurchase 830,000 shares, representing 1.86% of the outstanding shares, at ¥1,111 per share for ¥922.13 million. The purpose of the program is to enhance capital efficiency and to enable the implementation of a flexible capital policy in response to changes in the business environment. As of February 20, 2019, the company had 44,623,932 shares outstanding and 613,365 shares in treasury.
OKUWA CO., LTD. is a Japan-based company that operates its business under two segments. The Retail segment is engaged in the operation of supermarkets, sales of books, rental of DVDs, and management of cinema complexes and others. The Others segment is engaged in the expending of the restaurant chain, operation of store, running of hotel, management of facility, development of cleaning chain business, wholesale of agricultural products and processing and delivery business.