Macbee Planet to Buy Back Up to 650,000 Shares for 1.65 Billion Yen; Shares Up 6%

Macbee Planet (TYO:7095), a provider of digital marketing solutions, has approved the repurchase of up to 650,000 shares, or 4.5% of outstanding shares, for a maximum of 1.65 billion yen, according to a Thursday filing on the Tokyo Stock Exchange.

The buyback will occur from Oct. 1 to Dec. 12 through market purchases on the Tokyo Stock Exchange.

Founder Yusuke Kojima will also provide additional shares, both for a fee and as a donation, to support the company's growth.

Shares of the company were up nearly 6% in recent trade.

Price (JPY): $3195.00, Change: $+180, Percent Change: +5.97%