The Fukui Bank, Ltd. announces an Equity Buyback in the amount of ¥500 mm
June 07, 2013 at 09:52 am IST
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The Board of Directors of The Fukui Bank, Ltd. (TSE:8362) authorized a share repurchase program on June 7, 2013. Under the program, the company will repurchase 2,000,000 shares, representing 0.82% stake of outstanding shares (excluding treasury shares) for total of ¥500 million. The company will make repurchases on market.
The company will make repurchases in order to pursue a dynamic capital strategy responsive to changes in the business world and to further enhance shareholder returns. Repurchase will be made in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The repurchases will commence on June 10, 2013 and will be valid till August 26, 2013.
As of May 31, 2013, the company has 242,815,176 shares outstanding and held 631,521 shares under treasury.
Fukui Bank Ltd is a Japan-based company mainly engaged in businesses related to the provision of comprehensive financial services, centering on banking business. Its businesses include deposit services, lending services, domestic and foreign exchange services, and sales of government bonds, investment trusts, and individual annuity insurance. The Company also provides other comprehensive financial services such as consulting services, management and operation of investment partnership assets, guarantee services, leasing services, credit card services, computer-related services, worker dispatch services, fee-charging employment placement services, travel services based on the Travel Agency Law, sales operations of local products, local resources, and local brand products, as well as planning, management, and operation of smartphone application software.