Banners Co., Ltd. announces an Equity Buyback for 570,000 shares, representing 3.4% for ¥71.25 million.
January 28, 2021 at 12:30 pm IST
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Banners Co., Ltd. (TSE:3011) announces a share repurchase program. Under the program, the company will repurchase up to 570,000 shares, representing 3.4% of its issued share capital, for total worth of ¥71.25 million. The purpose of the share repurchases is to enables improvement of capital efficiency and agile execution of capital policy, and also acquires treasury stock as part of shareholder return measures. The program will be valid till January 29, 2021. As of December 31, 2020, the company had 16,745,000 shares in issue and 3,491,086 shares are in treasury.
BANNERS CO.,LTD. is a Japan-based company mainly engaged in the real estate utility business, car sale business and musical instrument sale business. The Company operates in three business segments. The Real Estate Utility segment is engaged in the leasing of land, buildings and parking lots. The Automobile Sales segment is engaged in the sale and maintenance of Honda cars, as well as the sale of insurance. The Instrument Sale segment is engaged in the import, repair and sale of instruments.