BIPROGY Inc. (JP:8056) has released an update.
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BIPROGY Inc. has announced a strategic move to enhance shareholder value and improve capital efficiency by repurchasing and canceling a portion of its own shares. The repurchase will be conducted through the ToSTNeT-3 off-auction system, aiming to minimize market impact, with a planned cancellation of 9 million common shares by August 30, 2024. The company will retain a maximum of 3% of its treasury shares, canceling the excess to avoid dilution of shareholder value.
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