SPARX Group Co., Ltd. announces an Equity Buyback for 330,000 shares, representing 0.79% for ¥500 million.
November 20, 2023 at 01:00 pm IST
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SPARX Group Co., Ltd. (TSE:8739) announces a share repurchase program. Under the program, the company will repurchase up to 330,000 shares, representing 0.79% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and enable flexible execution of capital policies according to the business environment.
The program will be valid till March 31, 2024. As of September 30, 2023, the company had 41,551,952 issued shares (excluding treasury stock) and 363,528 treasury shares.
SPARX Group Co., Ltd. is a Japan-based holding company mainly engaged in the asset management business. The Company is engaged in the asset management business for clients, including corporate pension annuities, government entities, private and trust banks and public pension funds; the provision of investment advisory services; the operation of mutual fund business, which includes the provision of various mutual funds to financial institutions and individual investors directly or through brokerage houses, banks and other intermediaries in Japan, Europe and the United States, as well as the securities business, including the provision of advisory services for investors. Through its subsidiaries, the Company is also engaged in the research and operation of foreign stocks, including Japanese, Korean and other Asian stocks.