Wakachiku Construction Co., Ltd. announces an Equity Buyback for 220,000 shares, representing 1.7% for ¥300 million.
May 13, 2019 at 03:15 am EDT
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Wakachiku Construction Co., Ltd. (TSE:1888) announces a share repurchase program. Under the program, the company will repurchase up to 220,000 shares, representing 1.7% of its share capital, for ¥300 million. The company will repurchase its shares in order to enhance shareholder returns by implementing a flexible capital policy and improving capital efficiency. The share repurchase program will run until November 29, 2019. As of March 31, 2019, the company had 12,954,547 shares outstanding (excluding treasury shares) and 10,446 shares in treasury.
WAKACHIKU CONSTRUCTION CO., LTD. is a Japan-based construction company. The Company operates in two business segments. The Construction segment is engaged in the construction-related business, including offshore civil engineering, land civil engineering and construction work in domestic market. The Real Estate segment is engaged in the sale and leasing real estate properties in domestic market. The others business is mainly engaged in ship supervision business.