Hitachi was early among Japan’s sprawling industrial conglomerates to hive off non-core operations. It forecast a net income of ¥850 billion for the fiscal year started in April, missing expectations, amid fears of impact from prolonged conflict in the Middle East.
(April 27): Hitachi Ltd said it will buy back up to 3.56% of its outstanding stock for as much as ¥500 billion (US$3.1 billion or $4 billion), the latest Japanese company to announce measures to beef up shareholder returns.
The Tokyo-based industrial electronics maker, whose shares are up less than 10% since the start of this year, said the buyback will begin on April 28 and end on March 31 next year.
