Maxvalu Chubu Co., Ltd. announces an Equity Buyback for 160,000 shares, representing 0.51% for ¥240.8 million.
January 25, 2018 at 07:30 am
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Maxvalu Chubu Co., Ltd. (NSE:8171) announces a share repurchase program. Under the program, the company will repurchase up to 160,000 shares, representing 0.51% of its share capital, at ¥1,505 per share for ¥240.8 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy which responds to changes in the business environment, and to allocate shares to be delivered upon exercise of stock options. As of August 31, 2017, the company had 31,621,334 shares outstanding (excluding treasury shares) and 113,289 shares in treasury.
MAXVALU CHUBU CO.,LTD. is a Japan-based company mainly engaged in the merchandise retailing business and related business. The Company mainly as a core company in the Chubu area of the Group's supermarket business, it operates supermarkets in Aichi, Gifu, Mie and Shiga prefectures. The Company is involved in the food supermarket business in Jiangsu Province, China. The Company manufactures sushi, cooked rice and prepared foods. The Company is also involved in the supply of products developed by Aeon Group (Topvalu), the transactions related to store maintenance and entering tenants into stores.