Heiwa Real Estate Co., Ltd. announces an Equity Buyback for 2,400,000 shares, representing 6.67% for ¥9,048 million.
June 07, 2024 at 08:00 am
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Heiwa Real Estate Co., Ltd. (TSE:8803) announces a share repurchase program. Under the program, the company will repurchase up to 2,400,000 shares, representing 6.67% of its issued share capital (excluding treasury stock), for a total purchase price of ¥9,048 million. The shares will be repurchased at a price of ¥3,770 per share.
The purpose of the program is to improve earnings per share (EPS) and return on equity (ROE), and to strengthen shareholder returns. As of March 31, 2024, the company has 35,958,652 issued shares (excluding treasury stock) and 2,901,344 treasury shares.
HEIWA REAL ESTATE CO.,LTD. is a Japan-based company mainly engaged in leasing business and real estate solution business. The Company operates in two business segments. The Leasing segment specializes in the development, leasing, management and operation of stock exchanges, offices, commercial facilities and housing. The Real Estate Solution segment is engaged in the development, sales, operation and management of real estates for revenue, development and sales of residential houses as well as real estate agency business. The Others businesses include the maintenance and repair of building equipment, contract work for repair, insurance agency business, etc.