Banners Co., Ltd. announces an Equity Buyback for 250,000 shares, representing 1.55% for ?30.75 million.
November 11, 2021 at 02:00 am EST
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Banners Co., Ltd. (TSE:3011) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 1.55% of its issued share capital for ?30.75 million. The shares will be repurchased at a price of ?123 per share. The purpose of the program is improvement of capital efficiency and the execution of agile capital policies. The program is valid till November 12, 2021. As of October 31, 2021, the company had 16,174,520 shares issued (excluding treasury stock) and 4,061,566 shares in treasury.
BANNERS CO.,LTD. is a Japan-based company mainly engaged in the real estate utility business, car sale business and musical instrument sale business. The Company operates in three business segments. The Real Estate Utility segment is engaged in the leasing of land, buildings and parking lots. The Automobile Sales segment is engaged in the sale and maintenance of Honda cars, as well as the sale of insurance. The Instrument Sale segment is engaged in the import, repair and sale of instruments.