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Latest Tokyo Brief coverage on Japan System Techniques Co.,Ltd., tracking filings, financial news, and market signals from Japan.
TSE:4323
The catch: Japan System Techniques has approved up to ¥2.5bn of buybacks, but says only the shares not needed for employee restricted stock and executive incentives will be cancelled.
The number: Japan System Techniques can repurchase up to 2 million shares, or 8.06% of stock outstanding, through June 25 next year, with spending capped at ¥2.5bn. The catch is that only stock needed for employee and officer incentives will be kept, while the rest is earmarked for cancellation.
Up to 2 million shares and ¥2.5bn of market purchases back a 50 per cent-plus payout policy, but Japan System Techniques says stock needed for employee RS and executive incentives will be retained rather than cancelled.
Sales rose to ¥32.46bn and ordinary income to ¥4.02bn in the year to March, extending a five-year growth run. What the filing does not show is which customer sectors did the buying, so the demand read-through stays broad rather than precise.