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NOVA SYSTEM surges in afternoon trading on share buyback plan
NOVA SYSTEM CO.,LTD. <5257> surged in afternoon trading. The company announced a share buyback program around 1:00 p.m., sparking buy orders. The repurchase is capped at 20,000 shares, or 1.43% of outstanding stock excluding treasury shares, for up to 60 million yen between May 22 and June 30. NOVA SYSTEM said the move is intended to cover future stock option exercises and restricted stock compensation grants, while enabling flexible capital policies.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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