Itochu (TYO:8001) has resolved to repurchase up to 28 million of its own shares, representing about 2% of its outstanding stock, according to a Friday filing on the Tokyo Stock Exchange.
The company aims to execute a flexible capital strategy through the buyback, with a maximum total expenditure of 150 billion yen. The repurchase will take place between May 7 and Dec. 31.
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