Premium Group Co., Ltd. announces an Equity Buyback for 2,500,000 shares, representing 6.42% for ¥3,000 million.
October 27, 2023 at 02:00 am EDT
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Premium Group Co., Ltd. (TSE:7199) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 6.42% of its share capital, for ¥3,000 million. The repurchase program is aimed at returning profits to shareholders, improving capital efficiency, and implementing a flexible capital policy in accordance with the business environment.
The program will expire on March 29, 2024. As of September 30, 2023, the company had 38,943,856 shares in issue (excluding treasury stock) and 1,383,914 shares in treasury.
Premium Group Co., Ltd. is a Japan-based company mainly engaged in the credit related business. The Company provides four types of businesses. The auto credit business is engaged in the provision of sale activities specialized for used auto suppliers. The Company sends or receives documents by post when using auto credits, for the purpose of improving business efficiency. The warranty business is engaged in the provision of repair free service when cars break down within the scope of warranty. It also provides prime warranty, car sensors after-sales guarantee and other automotive warranty products. The maintenance business is developed for the purpose of in-housing business of automobile repair work that occurs in the warranty business. The other business is engaged in the operation of finance and warranty business related to automobile sales on abroad.