SPRIX, Ltd. announces an Equity Buyback for 175,000 shares, representing 1.01% for ¥210 million.
March 16, 2021 at 05:00 am IST
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SPRIX, Ltd. (TSE:7030) announces a share repurchase program. Under the program, the company will repurchase up to 175,000 shares, representing 1.01% of its issued share capital (excluding treasury stock), for a total purchase price of ¥210 million. The purpose of the program is to allocate to shares to be delivered upon exercising stock options (stock acquisition rights), improve capital efficiency, and enable flexible execution of capital policies. The program will be valid till May 11, 2021. As of December 31, 2020, the company had 17,255,705 issued shares (excluding treasury stock) and 170,245 treasury shares.
SPRIX, Ltd. is a Japan-based company mainly engaged in educational services business. The Company provides cram school services including management and franchise development of Mori Juku and Jiritsugakushu RED. Mori Juku is the core business. It is a tutoring school for elementary and junior high school student. Jiritsugakushu RED is a tutoring school for elementary and middle school students, utilizing educational information technology (IT) to provide a learning program tailored. The education related services engages in development and sales of teaching materials Foresta, operation of Tokyo Dance Village and a fee-based job offer site Jukukoshi JAPAN. It also engages in operation of reading education program Cram School, sales of books and applications related to Chinese test HSK.
SPRIX INC. 
