TOKYO, May 26 (Pulse News Wire) – Koryojyuhan CO.,LTD. (3495.T) resolved at its board meeting held on May 26 to repurchase shares based on Article 156 of the Companies Act, as amended by Article 165.
The repurchased shares will be used for future restricted stock awards and to enhance capital efficiency in response to changing business environments. The company plans to execute buy orders through the TOSTNET-3 system on May 27 at 8:45 AM, based on the closing price of May 26. The total number of shares available for purchase is up to 21,000 (representing 0.75% of outstanding shares excluding treasury shares). The maximum amount for share repurchases is set at ¥60 million. The results of the share repurchase will be disclosed immediately after trading ends on May 27.
However, due to market conditions, some or all of the planned purchases might not occur. Additionally, the company received notice from Chairman Saburo Usui indicating his intention to sell part of his holdings. To avoid conflicts of interest, the board resolution was made without the participation of Chairman Usui, who intends to sell his shares. The repurchase proposal is driven by the company's initiative rather than requests from individual shareholders. The use of the TOSTNET-3 system ensures objective pricing and fair trading conditions.
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