Fit Corporation announces an Equity Buyback for 130,000 shares, representing 3.1% for ¥123.76 million.
December 27, 2021 at 02:00 am EST
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Fit Corporation (TSE:1436) announces a share repurchase program. Under the program, the company will repurchase 130,000 shares, representing 3.1% of its share capital, for ¥123.76 million. The shares will be repurchased at a price of ¥952 per share. The company will repurchase its shares in order to improve shareholder profits by improving capital efficiency and to carry out flexible capital policies such as M&A. The program will run until December 28, 2021. As of December 27, 2021, the company had 4,189,630 shares outstanding (excluding treasury shares) and 93,370 shares in treasury.
GreenEnergy&Co, formerly Fit Corp, is a Japan-based company mainly engaged in industrial and social decarbonization business, housing decarbonization business, and asset management business. The industrial and social decarbonization business mainly sells solar power generation facilities, mainly compact solar power plants (small solar power generation facilities), as investment products for individuals. The housing decarbonization business primarily sells compact houses equipped with low-cost solar power generation to general consumers and investors. In addition, it also promotes the development of Ietochi Honpo brand stores through directly managed stores and franchises. The asset management business focuses on income from the sale of electricity from solar power generation facilities it owns, management contracts for sold solar power generation facilities and rental real estate, and fee-based business centered on operation and maintenance (O&M) services.