Land Business Co.,Ltd. announces an Equity Buyback for 2,100,000 shares, representing 9.5% for ¥625.8 million.
April 09, 2020 at 12:30 pm IST
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Land Business Co.,Ltd. (TSE:8944) announces a share repurchase program. Under the program, the company will repurchase 2,100,000 shares, representing 9.5% of the outstanding shares for, at ¥298 per share ¥625.8 million. The purpose of the program is to improve shareholder returns and implement a flexible capital policy in response to changes in the business environment. As of March 31, 2020, the company had 22,096,415 shares outstanding and 4,684,385 shares in treasury.
LAND BUSINESS CO., LTD. is a Japan-based company mainly engaged in the real estate business, such as the development, trade, leasing, construction, design and construction supervision of real estate, as well as the related survey, plan and consulting businesses. The Company operates in two businesses. The leasing business is engaged in the leasing of real estate properties and the asset management outsourcing business. The real estate investment and others business is engaged in the investment of commercial real estate, such as office buildings and other real estate-related assets.