LEC, Inc. announces an Equity Buyback for 1,450,000 shares, representing 4% for ¥1,700 million.
April 17, 2020 at 03:00 am EDT
LEC, Inc. (TSE:7874) announces a share repurchase program. Under the program, the company will repurchase 1,450,000 shares, representing 4% of the outstanding shares for ¥1,700 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to enhance capital efficiency. The program will run until July 19, 2020. As of March 31, 2020, the company had 36,284,222 shares outstanding and 1,881,118 shares in treasury.