TOKYO, Sept 11 (Askume) – Japanese trading house Mitsui & Co (8031.T) said on Wednesday it had decided to double its share buyback spending to 400 billion yen ($2.84 billion), raising the ratio excluding its holdings to 6%.
Mitsui & Co. repurchased 2.64% of its shares, worth up to 200 billion yen, between May 2 and Sept. 20, and decided to spend another 200 billion yen to buy more shares before Feb. 28, 2025, the statement said.
“Mitsui & Co. plans to continue increasing its dividend as its cash generation continues to grow,” a statement from Mitsui & Co. said.
Mitsui & Co shares were up 0.34% by 0453 GMT, outperforming the Nikkei index (.N225), which was down 1.6%.
(1 USD = 140.9500 yen)
