Japanese incumbent NTT has announced the launch of a share repurchase programme, expected to take place between 16 November 2011 and 30 March 2012.
The company said it would spend Y220bn (US$2.8bn) on buying back 44 million shares, equivalent to a 3.48%…
Japanese incumbent NTT has announced the launch of a share repurchase programme, expected to take place between 16 November 2011 and 30 March 2012.
The company said it would spend Y220bn (US$2.8bn) on buying back 44 million shares, equivalent to a 3.48% stake in itself.
In the same statement, NTT said that it would cancel approximately 125 million shares, or 8.66% of its shares, on 15 November 2011. This move is part of the company’s decision, announced in March, to cancel all its treasury stock owned as of 31 March 2010.
It said, at the time, that it would cancel the 250 million shares over two fiscal years. As of 30 September 2011, NTT still had approximately 183 million treasury shares.
