The Bank of Okinawa, Ltd. announces an Equity Buyback for 127,000 shares, representing 0.63% for ¥600 million.
February 04, 2016
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The Bank of Okinawa, Ltd. (TSE:8397) announces a share repurchase program. Under the program, the company will repurchase up to 127,000 shares, representing 0.63% of its outstanding shares excluding treasury shares for ¥600 million. The shares will be repurchased at the closing stock price of ¥3,685 per share as on February 4, 2016 on the Tokyo Stock Exchange off-floor treasury share trading (ToSTNeT-3).
The purpose of the program is to aim for the enhancement of the profit returns to the shareholders. The shares will be repurchased in accordance with article 156, section 3 of the Companies Act. As of January 29, 2016, the company had 20,107,818 outstanding shares excluding treasury shares and 892,182 shares in treasury.
The Bank of Okinawa, Ltd. is a Japan-based company mainly engaged in the banking, leasing, credit card, credit guarantee and financial products business. The Company operates through two business segments. The Banking segment includes deposit business, lending business, foreign exchange business, securities investment business, window sales business for government bonds and trust business. The Leasing segment is involved in the leasing and related businesses. The Company is also involved in the mortgage credit guarantee services, financial product transaction services, cash scrutiny and consolidation services, receivables management and collection services, financial and economic research and research services, as well as the computer-related services.
OKINAWA FINANCIAL GROUP, INC. 
