I-Net Corp. announces an Equity Buyback for 80,000 shares, representing 0.5% for ¥118.64 million.
August 21, 2020 at 04:00 am EDT
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I-Net Corp. (TSE:9600) announces an share repurchase program. Under the program the company will repurchase 80,000 shares, representing 0.5% of the outstanding shares, at ¥1,483 per share for ¥118.64 million. The purpose of the program is to enhance capital efficiency and to enable the implementation of a flexible capital policy in response to changes in the business environment. As of July 31, 2020, the company had 16,047,256 shares outstanding and 195,168 shares in treasury.
I-NET CORP. is a Japan-based company mainly engaged in the provision of information technology processing services, system development services, the sale of system equipment. Information processing services include accounting and information processing contracts, credit data management, and delivery service to card companies; printing, processing and distribution of invoice, promotional direct mail; information technology managed services and cloud services, data entry, and business card printing. System development services include development and sale of core business software for finance, distribution, manufacturing, and government offices, embedded software, measurement and control software and package software; dispatch of staff, management consulting, the design, development, installation, operation and maintenance of information system. System equipment sales purchases and sells personal computers, point-of-sale, supplies, and package software, and provides operation guidance.