Tobu Railway Co., Ltd. announces an Equity Buyback for 4,000,000 shares, representing 1.89% for ¥10,000 million.
October 31, 2019 at 02:00 am
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Tobu Railway Co., Ltd. (TSE:9001) announces a share repurchase program. Under the program, the company will repurchase 4,000,000 shares, representing 1.89% of its share capital, for ¥10,000 million. The company will repurchase its shares in order to improve capital efficiency and further return profits to shareholders by implementing flexible capital policies. The program will run until February 28, 2020. As of September 30, 2019, the company had 211,259,390 shares outstanding (excluding treasury shares) and 1,054,231 shares in treasury.
Tobu Railway Co., Ltd. specializes in railway transportation services. The group is also developing retail, leisure centers operating and real estate promotion activities. Net sales break down by activity as follows:
- retail distribution (38.8%);
- railway transportation services (28.5%): detention, at the end of March 2021, of a network of 463.3 km of railway lines. Tobu Railway Co is also providing transportation by bus and taxi services;
- development and promotion of real estate assets (9.7%);
- leisure centers and hotels operating (7%);
- other (16%).
TOBU RAILWAY CO., LTD. 
