Monex Group to repurchase up to 12.5 million shares
Electronic trading company Monex Group Inc (TYO:8698) today announced share repurchase plans.
Commenting on the rationale for the share repurchase, the company said:
“Our principle is to increase our corporate value in a sustainable way through balancing our investments in growth areas and enhancements to our operating base, in aggressive yet proper manners, with return of profits to our shareholders. To ensure shareholder return, we will consistently offer dividend of 7.5 yen or more per share semi-annually and, from time to time, repurchase its shares with discretion of the management team”.
The broker decided on the share repurchase after comprehensive consideration of the business environment surrounding the group, the performance of its subsidiaries in the U.S. and other countries, the solid financial foundation and other conditions of the group, and the current level of the company’s stock price.
The total number of shares to be repurchased is up to 12.5 million, with the total cost being JPY 5 billion.
The repurchase period is from November 14, 2022 to February 28, 2023.