The Chikuho Bank, Ltd. announces an Equity Buyback for 1,150,000 shares, representing 1.86% for ¥300 million.
November 09, 2016
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The Chikuho Bank, Ltd. (FKSE:8398) announces a share repurchase program. Under the program, the company will repurchase 1,150,000 shares, representing 1.86% of the outstanding shares for ¥300 million. Shares will be repurchased by market purchase from the Fukuoka Stock Exchange. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to use these shares as share-based compensation-type stock options for auditing committee members such as directors and directors excluding external directors. The program will run until January 31, 2017. As of November 2, 2016, the company had 61,940,331 shares outstanding and 549,869 shares in treasury.
Chikuho Bank Ltd is engaged in the financial services business. It operates in two business segments. The Banking segment manages and procures funds such as deposits, loans and securities investments and provides financial services such as domestic exchange, foreign exchange and over-the-counter sales of securities investment trusts. The Leasing segment provides financial services related to leasing transactions for information-related equipment and transportation equipment. The Company is also involved in the debt guarantee business and related business, as well as the banking business and related business.