Hitachi Construction Machinery announces share buyback up to ¥34 billion
Hitachi Construction Machinery plans to repurchase up to 6.42 million shares through market purchases, with a maximum total spend of ¥34 billion. It also flagged an expected change in a major shareholder.
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Hitachi Construction Machinery said it will buy back up to 6,420,000 of its own shares through market purchases. The aggregate repurchase amount is capped at ¥34 billion.
The announcement also included a notice that a major shareholder is expected to change. No further details were provided on the timing or parties involved.
The buyback may reduce the share count and support the stock, while investors will monitor the shareholder change for potential supply effects.
Source: First Squawk