The Taiko Bank,Ltd. announces an Equity Buyback for 5,000,000 shares, representing 5.04% for ¥1,260 million.
November 11, 2016 at 02:53 am
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The Taiko Bank,Ltd. (TSE:8537) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 5.04% of its share capital for up to ¥1,260 million. The shares will be repurchased at the stock price of ¥252 per share through the off-auction own share repurchase method (ToSTNeT-3). The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to improve shareholder returns. As of November 4, 2016, the company had 99,243,295 shares outstanding and 770,705 shares in treasury.
Taiko Bank Ltd is a Japan-based company mainly engaged in businesses related to financial services, centered on banking services, credit card services, and leasing services. The Banking business mainly consists of deposit and lending operations, and also includes securities investment, domestic and foreign exchange, and sales of public bonds, investment trusts, and insurance. The Credit Card business is engaged in credit card operations. The leasing business is engaged in general leasing operations. The other business segment provides credit guarantee services.