USS Co., Ltd. announces an Equity Buyback for 5,000,000 shares, for ¥12,500 million.
June 20, 2023 at 04:30 am EDT
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USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 2.04% of its issued share capital (excluding treasury stock), for a total purchase price of ¥12,500 million. The purpose of the program is to improve corporate value, business expansion through investment and capital policies and to improve shareholder returns.
As of March 31, 2023, the company has 244,627,014 issued shares (excluding treasury stock) and 12,372,986 treasury shares.
USS Co Ltd is a Japan-based company mainly engaged in the auto auctions business. The Company operates in two business segments. The Auto Auction segment is engaged in the operation of auto auctions with used car dealers as members, the management of motorcycle auctions with used motorcycle dealers as members, the provision of auto auction connection services by satellite TV line and Internet, the provision of used car information services, the land transportation agency of exhibited cars and successful cars of auto auction, as well as the provision of financial services for auto auction members. The Used Automobile Purchase and Sale segment is engaged in the purchase and sale of used cars and accident-affected vehicles. The other business is engaged in the recycling of used vehicles, the provision of agency services for used vehicles, the sale of solar power generation systems and rental cars, as well as production and sale of recycled plastics.
USS CO., LTD. 
