Mitsui & Co Doubles Size of Share Buyback to Up to 400 Billion Yen
Mitsui & Co (TYO:8031), a trading house with operations in energy, metals, and machinery, has doubled its share repurchase budget to up to 400 billion yen and extended the buyback period to Feb. 28, 2025, according to a Wednesday filing on the Tokyo Stock Exchange.
The company now plans to repurchase up to 180 million shares, representing 6% of outstanding shares.
All repurchased shares will be canceled, with shares bought by Sept. 20 set for cancellation on Oct. 1, and those purchased by Feb. 28, 2025, will be canceled on March 5.
Shares of the company were up 2% in recent trade.
Price (JPY): $2904.50, Change: $+68, Percent Change: +2.38%
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