During Nintendo’s Board of Director’s meeting in Japan, the directors have decided to buyback up to 1 million outstanding Nintendo shares.
1 million shares is about 0.83% of all shares available in the market excluding treasury shares. It will cost Nintendo up to 33 billion yen (USD298 million) to purchase these shares again.
The reason for the share buyback is “to implement a flexible capital policy in accordance with changes in the business environment”. As a result of the share buyback, we can expect Nintendo share prices to increase for a brief period of time in the near future.
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