Media Kobo, Inc. announces an Equity Buyback for 250,000 shares, representing 2.45% for ¥100 million.
January 11, 2019 at 06:00 am
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Media Kobo, Inc. (TSE:3815) announces a share repurchase program. Under the program, the company will repurchase 250,000 shares, representing 2.45% of the outstanding shares for ¥100 million. The purpose of the program is the preparation for the implementation a flexible capital policy in response to new business growth and changes in the market, and to increase shareholder profits. The program will run until February 14, 2019. As of January 11, 2019, the company had 10,219,123 shares outstanding and 1,080,877 shares in treasury.
Media Kobo Inc is a Japan-based company mainly engaged in digital contents business. The Company operates through four business segments. Digital Contents segment is a one-to-n service business that plans, produces, and distributes fortune-telling appraisals and article content aimed at women for its own Website, Internet service provider (ISP), mobile carriers, and platforms such as Apple and Google. One to One segment is a one-to-one service business that features two-way communication that connects users and fortune tellers directly by phone. XR segment plans and produces services that utilize real-time live-action stereoscopic video shooting technology. SNS segment is engaged in the operation and service planning of social platforms.