RIDE ON EXPRESS HOLDINGS Co., Ltd. announces an Equity Buyback for 700,000 shares, representing 6.52% for ¥1,000 million.
September 07, 2021 at 02:00 am EDT
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RIDE ON EXPRESS HOLDINGS Co., Ltd. (TSE:6082) announces a share repurchase program. Under the program, the company will repurchase 700,000 shares, representing 6.52% of the outstanding shares for ¥1,000 million. The purpose of the program is to improve shareholder returns, enhance capital efficiency and enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until January 31, 2022. As of August 31, 2021, the company had 10,728,976 shares outstanding and 125,071 shares in treasury.
RIDE ON EXPRESS HOLDINGS Co., Ltd. is a Japan-based company mainly engaged in the management and operation of food delivery business. The Company mainly engaged in the delivery service of cooked ingredients such as sushi and kamameshi. The Company chain-operates brands such as home delivery sushi Gin no Sara and SUSHI JOTO, home delivery gourmet Kamatora, and operates a partner delivery service FineDine for partner restaurants. The FineDine service takes orders from customers and delivers food on behalf of partner restaurants that do not have a home delivery function.