Yokohama Maruuo Co., Ltd. announces an Equity Buyback for 700,000 shares, representing 9.91% for ¥692.3 million.
February 04, 2021 at 02:00 am EST
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Yokohama Maruuo Co., Ltd. (JASDAQ:8045) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 9.91% for ¥692.3 million. The shares will be repurchased at a price of ¥989 per share. The purpose of the program is to return profits to shareholders, improve capital efficiency and implement flexible capital policies in response to changes in the business environment. The program will expire on February 5, 2021. As of February 4, 2021, the company had 7,067,002 shares (excluding treasury stock) issued and outstanding and 194,704 shares in treasury.
Yokohama Maruuo Co., Ltd. is engaged in the wholesale of marine products. The Company operates in four business segments. The Marine Product Wholesale segment is engaged in the wholesale of marine products in central wholesale markets located in Yokohama and Kawasaki cities, as well as regional wholesale markets in Kawasaki city. The Marine Product Sale segment is engaged in the purchase of marine products from central wholesale markets, as well as the sale of marine products mainly to general merchandising stores and restaurant industry. The Real Estate Leasing segment is engaged in the leasing of rental condominiums. The Transportation segment is engaged in the transportation of marine products.
YOKOHAMA MARUUO CO., LTD. 
