Joyful Honda Co., Ltd. announces an Equity Buyback for 16,300,100 shares, representing 31.95% for ¥57,001.45 million.
June 08, 2017 at 03:00 am EDT
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Joyful Honda Co., Ltd. (TSE:3191) announces a share repurchase program. Under the program, the company will repurchase 16,300,100 shares, representing 31.95% of the outstanding shares for ¥57,001.45 million. The purpose of the program is to increase company value through business growth and expansion, and to return profits to shareholders. The program will run until August 31, 2017. As of March 20, 2017, the company had 51,012,880 shares outstanding and 600,000 shares in treasury.
Joyful Honda Co Ltd is engaged in the sales of housing products including materials and professional supplies, interior and living products, and garden and farm products, the design and construction of renovation work and the sales of related products, and the sales of living products including daily necessities, pets and leisure products. The Company operates home center business and housing renovation business. The stores include large-scale retail stores and specialty retail stores. The products include material and professional supplies such as lumber, construction materials, paints, tools, hardware, work supplies and electrical parts, daily necessities such as everyday consumables, sanitary products, medicines, health care products, beverages and alcoholic beverages, garden and farm products such as flower seedlings, vegetable seedlings, plants, culture soil, fertilizer, bricks and paving stones, interior and living products such as floors, walls, windows, furniture and others.