The Shikoku Bank, Ltd. announces an Equity Buyback for 2,000,000 shares, representing 0.92% for ¥600 million.
November 10, 2016
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The Shikoku Bank, Ltd. (TSE:8387) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 0.92% of the outstanding shares for ¥600 million. The purpose of the program is to improve shareholder returns and to implement a flexible capital policy in response to changes in the business environment. The program will run until March 14, 2017. As of October 31, 2016, the company had 216,304,559 shares outstanding and 2,195,441 shares in treasury.
The Shikoku Bank, Ltd. is a regional bank mainly engaged in the banking business, leasing business and other financial businesses. The banking business is engaged in the banking agency business and credit guarantee business. The leasing business is involved in the leasing business. The others business is engaged in the computer-related business, the investigation and research related to industry, economics and finance, as well as the management and operation of investment business partnership assets.