Pacific Net Co.,Ltd. announces an Equity Buyback for 136,800 shares, representing 2.64% for ¥118.47 million.
August 07, 2019 at 03:30 am EDT
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Pacific Net Co.,Ltd. (TSE:3021) announces a share repurchase program. Under the program, the company will repurchase 136,800 shares, representing 2.64% of the outstanding shares, at 866 per share for ¥118.47 million. The purpose of the program is to implement a flexible capital policy in response to business development, to enhance capital efficiency and improve shareholder returns. As of May 31, 2019, the company had 5,174,796 shares outstanding and 204 shares in treasury.
Pacific Net Co.,Ltd. is engaged in collection and sales of used personal computers (PCs) and smart phones, procurement information technology (IT) equipment as a new product, in provision of rental business, including short-term, medium-term and long-term rental, as well as provision of maintenance services. The Company operates though two business segments. The Collection and Sales segment collects objects from home users and business users include leasing company, general corporation and second hand contractors, performs data erasure and cleaning, then sells them to individuals, corporations and second hand contractors. The Rental segment is engaged in rental of personal computer (PC) and PC peripheral equipment for business.
PACIFIC NET CO.,LTD. 
