The Bank of Nagoya, Ltd. announces an Equity Buyback for 300,000 shares, for ¥2,400 million.
November 10, 2023 at 02:00 am EST
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The Bank of Nagoya, Ltd. (TSE:8522) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.77% of its share capital, for ¥2,400 million. The repurchase price will be ¥5,720 per share.
The purpose of the program is to enhance shareholder returns by improving capital efficiency. The repurchased shares will be cancelled. As of October 31, 2023, the company had 16,986,342 shares outstanding (excluding treasury stock) and 69,145 shares in treasury.
The Bank of Nagoya, Ltd. is a regional bank that conducts business related to financial services, such as banking, comprehensive finance leasing, outsourcing, and credit card business. The Company operates in three business segments. The Banking segment provides deposit, loan, domestic and foreign exchange, securities investment, commodity securities transactions, as well as bond registration services, among others. The Leasing segment is engaged in the general finance leasing business. The Card segment is engaged in the credit card business and guarantee business. The other businesses include the cash arrangement and scrutiny business.
THE BANK OF NAGOYA, LTD. 
