The Bank of Nagoya, Ltd. announces an Equity Buyback for 300,000 shares, representing 1.8% for ¥2,700 million.
May 14, 2024 at 03:00 am EDT
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The Bank of Nagoya, Ltd. (TSE:8522) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.8% of its share capital, for ¥2,700 million. The repurchase price will be ¥7,180 per share.
The purpose of the program is to enhance shareholder returns through improved capital efficiency in accordance with the shareholder return policy. The repurchased shares will be cancelled. As of April 30, 2024, the company had 16,685,625 shares outstanding (excluding treasury stock) and 69,862 shares in treasury.
The Bank of Nagoya, Ltd. is a regional bank that conducts business related to financial services, such as banking, comprehensive finance leasing, outsourcing, and credit card business. The Company operates in three business segments. The Banking segment provides deposit, loan, domestic and foreign exchange, securities investment, commodity securities transactions, as well as bond registration services, among others. The Leasing segment is engaged in the general finance leasing business. The Card segment is engaged in the credit card business and guarantee business. The other businesses include the cash arrangement and scrutiny business.
THE BANK OF NAGOYA, LTD. 
