Choei Inc. announces an Equity Buyback for 100,000 shares, representing 2.28% for ¥208.8 million.
November 20, 2023 at 02:15 am
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Choei Inc. (TSE:2993) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 2.28% of its issued share capital (excluding treasury stock), for a total purchase price of ¥208.80 million. The shares will be repurchased at a price of ¥2,088 per share.
The purpose of the program is to implement flexible capital policies in response to changes in the business environment and improve capital efficiency. As of September 30, 2023, the company has 4,381,700 issued shares (excluding treasury stock) and 91,700 treasury shares.
Choei Inc is mainly engaged in real estate management business and real estate leasing business. The Company operates in two business segments. The Real Estate Management segment provides services necessary for rental management such as tenant management, building maintenance, sales brokerage, rental brokerage and remodeling work. Residents are provided with the emergency reception desks at night on holidays to deal with room problems 24 hours a day, 365 days a year. For owners, the Company provides one-stop services necessary for rental management, and owns a rental management headquarter, an asset management headquarters, a occupancy promotion headquarter, a remodeling business headquarter, a real estate headquarter, and a development consulting department. The Real Estate Leasing segment includes leasing of properties, leasing by renting, monthly condominium business, hotel business and others. It operates in Kyoto, Shiga, Osaka, Hyogo, Aichi, Tokyo, and Kanagawa prefectures.