SKI Corp. announces an Equity Buyback for 800,000 shares, representing 7.37% for ¥500 million.
September 20, 2016 at 02:21 am EDT
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SKI Corp. (JASDAQ:9446) announces a share repurchase program. Under the plan, the company will repurchase up to 800,000 shares representing 7.37% of outstanding share capital for ¥500 million. Shares will be repurchased by market purchase in the Tokyo Stock Exchange JASDAQ Market. The purpose of the program is to strengthen shareholder returns, improve capital efficiency and enable the implementation of a flexible capital policy in the future. The shares will be repurchased till September 29, 2017. As of September 16, 2016, the company had 10,856,383 shares outstanding and 117 shares in treasury.
SAKAI Holdings CO.,LTD is a Japan-based company primarily engaged in mobile communication equipment sales business and the renewable energy business. It operates through five business segments. Renewable Energy segment is engaged in electricity sales at a fixed unit price for 20 years to power companies. Mobile Communication Equipment Sales related segment is engaged in sales of mobile communication equipment provided by mobile communication carriers, and distribution of subscription contracts to general users. Insurance Agency segment sells medical insurance and other third sector insurance which are entrusted by insurance companies. Funeral segment provides general customer services for the implementation of funerals, as well as the disclaimer after the funeral. Real Estate Leasing and Management segment is engaged in leasing of real estate properties such as parking lots and the collection of usage fees from general consumers. It also sells solar power generation panels.
SAKAI HOLDINGS CO.,LTD 
