SAIBO Co., Ltd. announces an Equity Buyback for 140,000 shares, representing 1.03% for ¥65.94 million.
January 19, 2017 at 12:30 am EST
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SAIBO Co., Ltd. (TSE:3123) announces a share repurchase program. Under the program, the company will repurchase 140,000 shares, representing 1.03% of the outstanding shares, at ¥471 per share for ¥65.94 million. Shares will be repurchased by negotiated transaction from Saitamakogyo Corporation. The purpose of the program is to acquire company common shares held by a subsidiary, based on Article 135-3 of the Company Law. As of January 19, 2017, the company had 13,582,164 shares outstanding and 417,836 shares in treasury.
Saibo Co., Ltd. is mainly engaged in the manufacture and sale of textile products, the leasing of real estate properties, as well as the operation of golf ranges. The Company operates in three business segments. The Textile segment manufactures and sells uniforms, clothing, promoting products, rayon yarns, synthetic yarns, hemp fabrics and embroidery lace, as well as yarn gluing. The Real Estate Utilization segment leases commercial facilities and other real estate, as well as operates building maintenance business. The Golf Ranges segment operates golf ranges. The others businesses include the sale of gift products, the sale of automatic watering flower pots and the greening of the houseplant rental business, the interior construction business, the management of Toyota Motor's sales agents, and the repair and maintenance of sheet metal painting for automobiles.
SAIBO CO., LTD. 
