Nippon Yusen announced on the 3rd that it will buy back its own shares up to 200 billion yen, equivalent to 16.7% of the total number of issued shares (excluding treasury stock). As part of the shareholder return policy set out in the medium-term management plan, the company aims to improve capital efficiency, and the stock price has risen significantly.
According to the announcement, all shares acquired during the acquisition period from April 4 to April 30, 2024 will be canceled.
In its new medium-term management plan announced in March, NYK announced plans to return profits to shareholders, including a 200 billion yen share buyback in fiscal 2023-2024. On the same day, the company raised its net profit forecast for this term (ending March 2012) and raised its annual dividend forecast by 10 yen to 130 yen.
Following the series of announcements, NYK stocks expanded their rise in afternoon trading. At one point, the price rose to 3,700 yen, up 7.2% from the previous day, which was the highest intraday rate of increase since May 27 last year.
Shipping companies are actively promoting shareholder returns, and Kawasaki Kisen also announced a share buyback with an upper limit of 60 billion yen the day before.
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(Updated with stock price information)
2023-08-03 03:25:29
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