ITOCHU-SHOKUHIN Co., Ltd. announces an Equity Buyback for 150,000 shares, representing 1.17% for ¥598.5 million.
June 15, 2016
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ITOCHU-SHOKUHIN Co., Ltd. (TSE:2692) announces a share repurchase program. Under the program, the company will repurchase 150,000 shares, representing 1.17% of the outstanding shares, at ¥3,990 per share for ¥598.5 million. Shares will be repurchased in the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy corresponding to changes in the business environment. As of March 31, 2016, the company had 12,837,507 shares outstanding and 195,183 shares in treasury.
ITOCHU-SHOKUHIN Co., Ltd. is a Japan-based company mainly engaged in alcoholic beverages and food wholesale business. The Company is engaged the provision of alcoholic beverages and foods wholesale business, the storage and transportation of related products, the provision of information regarding various products, as well as the merchandising business related to product distribution. It is also involved in the logistics management business, retail business, and food manufacture business.