Daiwa Motor Transportation Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 3.01% for ¥172.8 million.
May 16, 2016 at 09:39 am
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Daiwa Motor Transportation Co., Ltd. (TSE:9082) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 3.01% of its shares outstanding excluding treasury shares, at a price of ¥576 per share for a total cost of ¥172.8 million. Repurchases will be made through the Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the repurchase program is to enhance capital efficiency and implement a flexible capital strategy corresponding to changes in the business environment. As of April 30, 2016, the company had 9,962,458 shares outstanding excluding treasury shares and had 537,542 shares in treasury.
Daiwa Motor Transportation Co., Ltd. is a Japan-based company principally engaged in passenger car transportation business, real estate business, as well as fuel and materials sale business. The Company also develops business activities, such as the sale of automobile meter devices related to each business, as well as the manufacture and sale of metal products. The Company operates in three business segments. Passenger Car Transportation segment is involved in hired car business, operation management business and taxi business. Real Estate segment is involved in the provision of leasing, trading, brokerage, management and cleaning services. Sale segment is involved in the sale of fuel and materials, the manufacture and sale of metal products, as well as the sale and repair of automobile meters.
DAIWA MOTOR TRANSPORTATION CO., LTD. 
