Kyokuto Co., Ltd. announces an Equity Buyback for 280,000 shares, representing 5.05% for ¥163.52 million.
June 01, 2017 at 03:50 am EDT
Share
Kyokuto Co., Ltd. (JASDAQ:2300) announces a share repurchase program. Under the program, the company will repurchase 280,000 shares, representing 5.05% of the outstanding shares for ¥163.52 million. Shares will be repurchased in the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). 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 February 28, 2017, the company had 5,541,459 shares outstanding and 9,771 shares in treasury.
Kyokuto Co., Ltd. is a Japan-based company mainly engaged in the home cleaning business. The Company is engaged in the provision of dry cleaning, laundry and products sale services. The dry cleaning service is engaged in the provision of cleaning services by mixing ozone with petroleum solvent for products that are made of wool, silk, some synthetic fibers and other materials that cannot use water. The laundry service is engaged in the provision of cleaning services by warm water and washing equipment for products that are made of cotton, linen, some synthetic fibers and other materials. The products sale service is engaged in the sale of promotional products to the stores, as well as the provision of special member services. The Company operates through directly managed stores, quasi directly managed stores and agent stores.
KYOKUTO CO., LTD. 
