Recomm Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 1.41% for ¥100 million.
February 18, 2020 at 07:30 am
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Recomm Co., Ltd. (JASDAQ:3323) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing 1.41 of the outstanding shares for ¥100 million. The purpose of the program is to improve shareholder returns and capital efficiency, and implement a flexible capital policy in response to changes in the business environment. The program will run until March 18, 2020. As of January 31, 2020, the company had 70,862,500 shares outstanding and 13,000 shares in treasury.
RECOMM CO., LTD., formerly RECOMM HOLDINGS CO., LTD., is a Japan-based holding company mainly engaged in the information communication equipment business. The Company operates in three business segments. The Information Communication segment sells business phones, digital multifunction peripherals (MFPs) and other office automation (OA) equipment through the Company's operating stores, franchise stores and agencies. The Business Process Outsourcing (BPO) business operates outsourced business from within the group, outsourced business from customers outside the group mainly in China. The Overseas Corporate segment sells eco products such as LEDs and information communication equipment in China and Vietnam.
RECOMM CO., LTD. 
