Mito Securities Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 1.39% for ¥450 million.
October 28, 2015
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Mito Securities Co., Ltd. (TSE:8622) announces a share repurchase program. Under the plan, the company will repurchase 1,000,000 shares, representing 1.39% of outstanding shares for a total of ¥450 million. The company will make market purchase by trust method.
The shares will be repurchased in order to improve overall shareholder returns and capital efficiency, and to implement a flexible capital policy. The shares will be repurchased until December 22, 2015. As of September 30, 2015, the company 72,121,861 outstanding shares (treasury shares excluded) and 3,567,172 shares were held under treasury.
Mito Securities Co., Ltd. is a Japan-based company mainly engaged in the securities business. The Company is involved in the purchase and sale of marketable securities, the introduction of marketable securities, as well as the underwriting, sale and offering of marketable securities, among others. In addition, the Company is engaged in the provision of investment information, as well as the setting and cancellation of investment trust. The Company is engaged in the operation of branches in Tokyo, Ibaraki, Tochigi, Gunma, Saitama, Chiba, Kanagawa and Fukushima prefectures, among others.