Mito Securities Co., Ltd. announces an Equity Buyback for 5,000,000 shares, representing 7.2% for ¥1,400 million.
April 26, 2019 at 05:20 am
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Mito Securities Co., Ltd. (TSE:8622) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 7.2% of its share capital, for ¥1,400 million. The company will repurchase its shares in order to further improve shareholder returns and capital efficiency. The share repurchase program will run until February 28, 2020. As of March 31, 2019, the company had 69,454,489 shares outstanding (excluding treasury shares) and 1,234,544 shares in treasury.
Mito Securities Co., Ltd. is a Japan-based company mainly engaged in the securities business. The Company is involved in the purchase and sale of marketable securities, the introduction of marketable securities, as well as the underwriting, sale and offering of marketable securities, among others. In addition, the Company is engaged in the provision of investment information, as well as the setting and cancellation of investment trust. The Company is engaged in the operation of branches in Tokyo, Ibaraki, Tochigi, Gunma, Saitama, Chiba, Kanagawa and Fukushima prefectures, among others.