The Japanese multinational corporation Sony Corp. announced the launch of the largest share repurchase program (buyback) in the history of the company in the amount of 100 billion yen ($ 910 million).
Last year, the company did not make major purchases of its own shares. The current buyback started on Tuesday, February 5, and will run until March 22. The program will affect approximately 2.2% of the company's outstanding securities.
Last week, Sony published a quarterly financial report, which reported a decrease in revenue and worsened the annual forecast for this indicator, as a result, the company's capitalization dropped sharply by 8.1%.
After the announcement of the buyback value of the shares of Sony Corp. on the Tokyo Stock Exchange rose 4.10% to 4.906 yen.
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