Syuppin Co., Ltd. announces an Equity Buyback for 2,661,200 shares, representing 11.26% for ¥2,900 million.
June 14, 2021 at 03:30 am EDT
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Syuppin Co., Ltd. (TSE:3179) announces a share repurchase program. Under the program, the company will repurchase 2,661,200 shares, representing 11.26% of the outstanding shares for ¥2,900 million. The shares will be repurchased from the retired chairman Kei Suzuki. The shares will be repurchased at a price of ¥1,057 per share. The funds for the acquisition of treasury stock will be procured through bank loans. The purpose of the program is to implement a future flexible capital policy and the repurchased shares will be used for utilization in future M&A and alliances (capital and business alliances, etc.) for sustainable improvement of corporate value, as a stock incentive for officers and employees and in shareholder return measures along with prevention of short-term supply and demand deterioration of stock. The program is valid till June 15, 2021. As of March 31, 2021, the company has 23,631,904 shares (excluding treasury stock) and 342,276 shares in treasury.
Syuppin Co., Ltd. is primarily engaged in the purchase and sale of used and new goods through Internet or retail stores. The Company operates in four business segments. The Camera segment provides used and new cameras such as digital cameras, film cameras, interchangeable lenses, peripheral equipment and others. The Watch segment provides used and new watches. The Writing Instrument segment provides used fountain pens, new fountain pens, stationery, leather accessories and others. The Bicycle segment provides used and new goods of bicycle bodies, frames, parts, accessories and others.
SYUPPIN CO., LTD. 
