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Sumitomo ( (JP:8053) ) has provided an update.
Sumitomo Corporation has announced a strategic decision to repurchase up to 35 million shares of its common stock, representing approximately 2.9% of its outstanding shares, with a total repurchase amount of up to 80 billion yen. This move, aimed at improving capital efficiency and enhancing shareholder returns, will see the cancellation of all repurchased shares, excluding 1 million shares allocated for stock compensation, by April 10, 2026.
More about Sumitomo
YTD Price Performance: 18.92%
Average Trading Volume: 6,176
Technical Sentiment Signal: Strong Sell
Current Market Cap: $29.63B
See more insights into 8053 stock on TipRanks’ Stock Analysis page.
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