I'rom Group Co., Ltd. announces an Equity Buyback for 110,000 shares, representing 0.94% for ¥200 million.
November 08, 2018 at 12:00 pm IST
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I'rom Group Co., Ltd. (TSE:2372) announces a share repurchase program. Under the program, the company will repurchase 110,000 shares, representing 0.94% of the outstanding shares for ¥200 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 December 28, 2018. As of September 30, 2018, the company had 11,693,470 shares outstanding and 14,195 shares in treasury.
I'rom Group Co.,Ltd. is engaged in medical fields such as regenerative medicine and gene discovery. The Company operates through four business segments. The SMO segment provides support services for contracting or substituting a part of the work related to conducting clinical trials from the conducting medical institution. The CRO segment provides all or part of clinical trial operations from pharmaceutical companies and others. The Advanced Medicinal Treatment segment is engaged in the development of gene therapy products, the development, manufacture and sale of products in the field of regenerative medicine based on iPS cells related technologies, as well as the provision of contract manufacture services. The Medical Support segment provides general and comprehensive support for medical business management, such as setting up and renting clinic malls, selling products and related services. The Company also provides business utilizing IT infrastructure.
I'ROM GROUP CO., LTD. 