Tohbu Network Co., Ltd. announces an Equity Buyback for 50,000 shares, representing 0.93% for ¥40.05 million.
November 29, 2022 at 12:30 pm IST
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Tohbu Network Co., Ltd. (TSE:9036) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 0.93% of its issued share capital (excluding treasury stock), for ¥40.05 million. The shares will be repurchased at a price of ¥801 per share.
The purpose of the program is to improve capital efficiency and implement flexible capital policies in response to changes in the business environment. The program will expire on November 30, 2022. As of October 31, 2022, the company had 5,401,013 shares in issue (excluding treasury stock) and 347,987 shares in treasury.
TOHBU NETWORK CO.,LTD. is a Japan-based company mainly engaged in freight truck transport, merchandise sale, real estate leasing and other businesses. The Company operates through four business segments. The Lorry Transportation segment is engaged in the development of transportation network from the Tohoku region to the Kinki region, as well as the provision of transportation services for various products. In addition, the Company provides bulk ordering services such as cargo storage operations and distribution center operations according to customer demand. The Merchandise Sale segment is mainly engaged in the sale and leasing of petroleum products, cement and vehicles. The Real Estate Leasing segment provides various rental commercial facilities such as rental office buildings and distribution centers. The Other segment is involved in car maintenance, dispatching and non-life insurance agency business.
TOHBU NETWORK CO., LTD. 
