The Towa Bank, Ltd. announces an Equity Buyback for 250,000 shares, for ¥220 million.
August 06, 2020 at 02:30 am EDT
Share
The Towa Bank, Ltd. (TSE:8558) announces an share repurchase program. Under the program the company will repurchase 250,000 shares, representing 0.67% of the outstanding shares for ¥220 million. The purpose of the program is to allot shares for transfer following the exercise of compensation-type stock options. The program will run until the day before the Ordinary General Meeting of Shareholders on 2021. As of July 31, 2020, the company had 37,050,555 shares outstanding and 129,718 shares in treasury.
THE TOWA BANK, LTD. is mainly engaged in financial services related business, such as the leasing business. The Banking segment provides banking services including deposit business, loan business, domestic exchange business and foreign exchange business, the provision of integrated financial services to local communities, among others. The Bank also provides leasing services, credit guarantee business and credit card business, among others.