TOKYO, Nov. 04, 2016 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. ("IIJ"), (NASDAQ:IIJI), (TSE1:3774) announced that its Board of Directors has resolved today to repurchase its own shares pursuant to Article 156, Paragraph 1 of the Corporation Law as applied pursuant to Article 165, Paragraph 3 of the Corporation Law and IIJ’s Article of Incorporation.
Outline of repurchase
|(1) Type of shares to be repurchased:||Common stock of IIJ|
|(2) Total number of shares to be repurchased:||Up to 950,000 shares|
|(3) Total amount to be repurchased:||Up to JPY 1,500,000,000|
|(4) Period of repurchase:||From November 7, 2016 to January 31, 2017|
|(5) Method of repurchase:||Open market purchase at the Tokyo Stock Exchange|
|(Reference)||Total number of common shares outstanding (excluding treasury shares):||45,952,691 shares|
|Number of treasury shares held by IIJ as of November 4, 2016:||758,709 shares|
This press release is published in order to publicly announce IIJ’s repurchase of its own shares and is not prepared for the purpose of soliciting investment or any similar act inside or outside of Japan.
Founded in 1992, Internet Initiative Japan Inc. is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. The company's services include high-quality systems integration and security services, Internet access services, and cloud computing services. Moreover, the company has built one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom, Singapore and Hong Kong. IIJ listed on NASDAQ in 1999 and on the First Section of the Tokyo Stock Exchange in 2006. For more information about IIJ, visit the IIJ Web site at http://www.iij.ad.jp/en/.
The statements within this release contain forward-looking statements about our future plans that involve risk and uncertainty. These statements may differ materially from actual future events or results. Readers are referred to the documents furnished by Internet Initiative Japan Inc. with the Securities and Exchange Commission, specifically the most recent reports on Forms 20-F and 6-K, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
Source:Internet Initiative Japan Inc.