Sony stock jumps after share buyback announcement

  • News Digest
TOKYO

Feb 11, 2019-

Sony Corp announced its first-ever major share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover from a hammering days earlier when investors freaked over lackluster earnings. The announcement marked Japan’s second major buyback this week after tech investor SoftBank Group Corp scheduled the repurchase of 600 billion yen in shares using proceeds from the IPO of its telecoms unit, sending its stock price soaring. Japanese firms have been increasing buybacks as investors call for higher returns in a country not known for showering its shareholders in riches. (REUTERS)

Published: 11-02-2019 12:44

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