Sony Discloses ¥200B Share Repurchase Plan

  • Today, Sony Group Corp SONY disclosed the share repurchase plan amid improving capital efficiency and as a part of capital policy implementation. 
  • The company will buy back 25 million shares for a purchase price of ¥200 billion from May 18, 2023, to May 17, 2024.
  • Apart from this, Sony introduced restricted shares and options as stock compensation plans and intends to curb share dilution.
  • Last month, Sony reported fourth-quarter FY22 sales growth of 35% year-on-year to $23.16 billion, beating the consensus of $17.55 billion. Adjusted EPS of $0.97 beat the consensus of $0.45.
  • Operating cash flow (excluding the Financial Services segment) stood at ¥415.5 billion in FY22.  
  • The company paid a dividend of ¥75 per share in FY22 and expects an interim dividend per share of ¥40.
  • Also readSony Reveals PS5 Sales Numbers, Sets Sights On Historic 25 Million Units
  • Price Action: SONY shares closed lower by 0.91% at $93.81 on Tuesday.
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