Care Service Co Ltd announces an Equity Buyback for 50,000 shares, representing 2.58% for ¥40 million.
October 21, 2016 at 04:11 am
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Care Service Co Ltd (JASDAQ:2425) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 2.58% of its common stock for a total of ¥40 million. The company will repurchase its shares in order to aim for the enhancement of shareholder returns, along with the improvement of capital efficiency and the implementation of a flexible capital policy which responds to changes in the business environment. The program will expire on November 30, 2016. As of September 30, 2016, the company had 1,941,300 shares outstanding excluding treasury shares, and 158,700 shares in treasury.
Care Service Co., Ltd. is a Japan-based company principally engaged in the provision of nursing care services. The Company operates in three business segments. The Nursing Care segment is engaged in the provision of daycare services, home visiting and bath services, home visiting and care services, home care support services, nursing care equipment rental services, as well as the sale of certain nursing care equipment. The Angel Care segment is engaged in the provision of washing services, as well as cosmetic, dressing and coffin (CDC) services for the deceased. The Houses with Services for the Elderly segment is engaged in the provision of houses with homecare services for the elderly.