Felissimo Corporation announces an Equity Buyback for 500,000 shares, representing 7.19% for ¥500 million.
April 21, 2020 at 03:10 am EDT
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Felissimo Corporation (TSE:3396) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 7.19% of the outstanding shares, at ¥974 per share for up to ¥500 million. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. As of April 21, 2020, the company had 6,949,698 shares outstanding and 3,093,802 shares in treasury.
FELISSIMO CORPORATION is a Japan-based company engaged in mail-order business centered on clothing, clothing accessories, and lifestyle-related products. In Japan, The Company is engaged in mail order sale of apparel, apparel goods including clothing, personal products, life-related items including houseware, daily necessities, health-related products, handicraft and leisure-related products, food, among others. In addition, the Company is also engaged in order reception, inquiry response, information processing, merchandise management, and order shipment business at the Company's orders and distribution centers.