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Daiwa Office Investment to Launch 1.5 Billion Yen Investment Unit Buyback

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Daiwa Office Investment (TYO:8976) said its board agreed to repurchase up to 7,000 of its own investment units for 1.5 billion yen, according to a Friday release.

The Tokyo-listed company said that the acquisition will improve and enhance its capital efficiency and boost returns for unitholders, and the buyback represents 0.75% of its outstanding investment units, excluding treasury units.

The repurchases will be conducted through market purchases on the Tokyo Stock Exchange between July 21 and Nov. 12 under a discretionary agreement.

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