Cotta CO.,LTD announces an Equity Buyback for 400,000 shares, representing 3.6% for ¥300 million.
May 17, 2021 at 05:00 am EDT
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cotta CO.,LTD (TSE:3359) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 3.6% of its issued share capital (excluding treasury stock), at ¥750 per share, for ¥300 million. The purpose of the program is to return profits to shareholders, to improve capital efficiency and to implement an agile capital policies in response to future changes in the business environment. The program will run until October 31, 2021. As of February 17, 2021, the company had 11,105,987 shares in issue (excluding treasury stock) and 526 shares in treasury.
cotta Co Ltd is a Japan-based company mainly engaged in the business of selling confectionery and baking materials and sundries to confectionery and lunch box stores and individual customers. The main sales method is mail-order sales via the Internet, facsimile, telephone and others, with particular emphasis on sales via the cotta Internet mail-order site. In addition, through its subsidiaries, the Company is engaged in the processing, manufacturing, and sales of confectionery and baking ingredients, the maintenance and operation of cotta, the tie-up advertising business with cotta as an Internet media business, and the community-based wholesale confectionery and bakery business for business-to-business transactions, primarily in the confectionery and bakery industry in Yamaguchi Prefecture, delivering products directly to customers using Company-owned delivery vehicles, as well as the planning and sales of household sundries for cooperatives.
COTTA CO.,LTD 
