USS Co., Ltd. announces an Equity Buyback for 6,000,000 shares, representing 2.4% for ?10,000 million.
November 08, 2021 at 02:40 am EST
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USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase 6,000,000 shares, representing 2.4% of the outstanding shares for ?10,000 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, enhance capital efficiency and improve shareholder returns. The program will run until May 31, 2022. As of September 30, 2021, the company had 249,663,714 shares outstanding and 63,586,286 shares in treasury.
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. 
