The Bank of Iwate, Ltd. announces an Equity Buyback for 330,000 shares, representing 1.84% for ¥1,000 million.
November 08, 2019 at 12:00 am EST
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The Bank of Iwate, Ltd. (TSE:8345) announces a share repurchase program. Under the program, the company will repurchase up to 330,000 shares, representing 1.84% for ¥1,000 million. The company will repurchase its shares in order to improve capital efficiency, and as part of its flexible capital policy in response to changes in the business environment. The repurchase program will expire on March 13, 2020. As of October 31, 2019, the company had 17,920,342 shares outstanding (excluding treasury shares) and 577,444 shares in treasury.
Bank of Iwate Ltd is a Japan-based company mainly engaged in the banking business. The Company operates through two business segments. The Banking segment provides deposit business, lending business, domestic exchange business, foreign exchange business, commodity securities trading business, securities investment business, trust business, corporate bond trust and registration business, and other incidental business. It is also engaged in the cash settlement and consolidation operations. The Leasing Business segment is engaged in leasing and computer contract processing business. It also provides credit card services and credit guarantee services.
THE BANK OF IWATE, LTD. 
