Ekitan & Co., Ltd closed an Equity Buyback in the amount of ¥126.7 mm
September 03, 2012 at 12:00 am EDT
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The Board of Directors of Ekitan & Co., Ltd (TSE:3646) authorized a share repurchase program on May 24, 2012. Under the program, the company will repurchase up to 300,000 shares, representing 4.62% of its issued share capital (excluding treasury shares), for a total cost of ¥160 million. The repurchases will be done on market by trust method. The repurchases will be done based on the stipulations of paragraph 3, Article 165, of Japan's Corporate Law. The purpose of the repurchase program is to enable the implementation of a flexible capital policy which supports the changes in the business environment. The plan will commence on May 25, 2012 and end on September 28, 2012. As of March 31, 2012, the company has 6,488,484 shares outstanding (treasury shares excluded) and 400,316 shares held in treasury.
Ekitan & Co., Ltd completed its share repurchase program on September 3, 2012. Under the plan, the company repurchased 300,000 shares, representing 4.62% of its issued share capital (excluding treasury shares), for a total cost of ¥126.7 million.
Ekitan & Co.,Ltd. is a Japan-based company providing information contents services. The Company operates in two business segments. The Consumer business develops a transit guide service Station Search Transit Information for individuals through mobile phones including smart phones. The Business for Corporate Users provides transit guidance services provided by the Company as application service provider (ASP) service for corporations such as mobile carriers, railroad companies and map companies.