Sanrio Company, Ltd. announces an Equity Buyback for 3,391,700 shares, representing 4.04% for ¥6,000 million.
November 04, 2020 at 02:10 am EST
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Sanrio Company, Ltd. (TSE:8136) announces a share repurchase program. Under the program, the company will repurchase 3,391,700 shares, representing 4.04% of its share capital, for ¥6,000 million. The shares will repurchased at a price of ¥1769 per share. The company will repurchase its shares in order to improve capital efficiency and to enable the implementation of a flexible capital policy. As of September 30, 2020, the company had 83,933,255 shares outstanding (excluding treasury shares) and 5,132,046 shares in treasury.
Sanrio Company, Ltd. is a Japan-based company mainly engages in the planning and sales of social communication gift products, theme park business and others. Social Communication Gifts business mainly involves in the planning and sales of social communication gifts, as well as greeting cards, publications, the production and sales of video software, and the licensing and management of copyright. The Theme Park business operates theme parks, and plans and provides musicals and others. In addition, the Company is also engaged in the sale and leasing of robots, automobile loan, property and casualty insurance agency business and others.