CANON TO BUY BACK $ 470,000.000.00 IN SHARES

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CANON TO BUY BACK $ 470,000.000.00 IN SHARES

 user 2008-09-18 at 3:23:35 pm Views: 58
  • #20642

    http://www.bloomberg.com/apps/news?pid=20601101&sid=aEev2EnqSpHo&refer=japan
    Canon Shares Rise After Announcement of Share Buyback
    Sept. 08 — Canon Inc. rose the most in almost five weeks in Tokyo trading after Japan’s biggest office equipment maker announced a share buyback plan.Canon gained 3.4 percent to close at 3,970 yen on the Tokyo Stock Exchange, the biggest advance since Aug. 11. The benchmark Nikkei 225 Stock Average increased 1.2 percent.The Tokyo-based company will spend as much as 50 billion yen ($470 million) to buy back up to 14.5 million of its own shares, Canon said yesterday, after markets in Japan closed.