MUGEN ESTATE Co.,Ltd. announces an Equity Buyback for 650,000 shares, representing 2.71% for ?300 million.
November 12, 2021 at 01:30 am EST
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MUGEN ESTATE Co.,Ltd. (TSE:3299) announces a share repurchase program. Under the program, the company will repurchase 650,000 shares, representing 2.71% of the outstanding shares for ?300 million. The purpose of the program is to improve shareholder returns and to ensure a flexible and mobile capital policy in response to changes in the business environment. The program will run until May 13, 2022. As of June 30, 2021, the company had 23,978,691 shares outstanding and 382,309 shares in treasury.
MUGEN ESTATE Co., Ltd. is engaged in the real estate related businesses through two business segments. The Real Estate Trading segment engages in the purchase and sale of owned condominiums, investment real estate, such as rental condominiums, apartments and office buildings, detached houses and related interior and exterior work and mediation. The Rental and Others segment involves real estate rental business, as well as real estate management business