Sobal Corporation announces an Equity Buyback for 120,000 shares, representing 2.85% for ¥180 million.
June 30, 2016 at 02:37 am EDT
Sobal Corporation (JASDAQ:2186) announces a share repurchase program. Under the program, the company will repurchase up to 120,000 shares, representing 2.85% of its total shares outstanding excluding treasury shares, for a total of ¥180 million. The purpose of the repurchase program is to enhance capital efficiency, implement a flexible capital policy corresponding to changes in the business environment and to improve shareholder returns. The plan will continue until August 31, 2016. As of May 31, 2016, the company had 4,203,549 shares outstanding excluding treasury shares and had 51 shares in treasury.