Sun-Life Holding Co.,Ltd. announces an Equity Buyback for 360,000 shares, representing 5.55% for ¥343.8 million.
November 22, 2019 at 02:30 am EST
Share
Sun-Life Holding Co.,Ltd. (JASDAQ:7040) announces a share repurchase program. Under the program, the company will repurchase 360,000 shares, representing 5.55% of its share capital, at ¥955 per share for ¥343.8 million. The company will repurchase its shares in order to alleviate the impact on the stock market of the dissolution of its capital alliance with Nichiryoku Co.,Ltd. (JASDAQ:7578), and to implement capital policies that respond to changes in the business environment and market environment. As of March 31, 2019, the company had 6,483,156 shares outstanding (excluding treasury shares) and 336,844 shares in treasury.
SUN LIFE HOLDING CO.,LTD. is a Japan-based holding company engaged in the operation and management of group companies which conduct ceremony, nursing care and other related business. The Company provides hotel & bridal service, funeral & Buddhist sermon service, nursing care service and other related services, for regional customers and mutual aid association members in the members' system (mutual benefit association). The Companyâs subsidiary SUN LIFE CORPORATION operates in four business segments: hotel business, ceremonial business, other business and company-wide (common).