NEW ART HOLDINGS Co., Ltd. announces an Equity Buyback for 1,850,000 shares, representing 11.35% for ¥1,000 million.
May 07, 2019 at 02:30 am EDT
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New Art Co., Ltd. (JASDAQ:7638) announces a share repurchase program. Under the program, the company will repurchase 37,000,000 shares, representing 11.35% of the outstanding shares for ¥1,000 million. The purpose of the program is to improve shareholder returns and capital efficiency, and implement a flexible capital policy in response to changes in the business environment. The program will run until May 7, 2020. As of March 31, 2019, the company had 325,945,543 shares outstanding and 6,581,971 shares in treasury.
New Art Holdings Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of bridal jewelry (engagement rings and wedding rings), the operation of aesthetic salons, the planning and operation of auctions, and the sale of works of art. The Company operates in three business segments. The Jewelry Art Auction segment includes the manufacture and sale of bridal jewelry through the management of GINZA DIAMOND SHIRAISHI and EXELCO DIAMOND, the provision of bridal-related services, the purchase and wholesale of diamond loose (naked stone), the sale of art, the planning and operation of art auctions. The Health and Beauty segment operates the beauty salon La PARLER and manufactures and sells cosmetics and health foods. The Other businesses segment includes credit card business, manufacture and sale of golf equipment, development and manufacture of related sporting goods, and operation and resort business of hotels and wedding halls.
NEW ART HOLDINGS CO., LTD. 
