Star Mica Holdings Co., Ltd. announces an Equity Buyback for 1,800,000 shares, for ¥3,100 million.
April 04, 2022 at 01:15 pm IST
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Star Mica Holdings Co., Ltd. (TSE:2975) announces a share repurchase program. Under the program, the company will repurchase 1,800,000 shares, representing 9.71% of its share capital, for ¥3,100 million. The company will repurchase its shares in order to improve the return of profits to shareholders and to ensure the flexibility and agility of capital policies in response to changes in the business environment.
The program will run until March 31, 2023. As of April 4, 2022, the company had 18,530,386 shares outstanding (excluding treasury shares) and 710,804 shares in treasury.
Star Mica Holdings Co., Ltd. is a Japan-based company mainly engaged in renovation apartment business, investment business and advisory business. The renovation apartment business is engaged in purchase of family type apartments mainly from the metropolitan area and lease to tenants as portfolio. After the tenants leave, the Company will renovate to increase asset value, and then sold as residences to end users through house agents. The investment business conducts investments activities including leasing and sale of real estate mainly in the metropolitan area and investment development business centering on securities. The advisory business is engaged in real estate brokerage, rental brokerage, rental management, building management, operation of monthly apartments, etc. and fee operation of renovation apartment business and investment business.
STAR MICA HOLDINGS CO., LTD. 
