Sumitomo Mitsui Financial (SMFG) has released an update.
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Sumitomo Mitsui Financial Group, Inc. has announced a strategic move to repurchase up to 15 million of its own shares, amounting to 1.1% of its outstanding shares, for a total of up to 100 billion yen. The buyback is aimed at enhancing shareholder value and improving capital efficiency, and it will take place from May 16 to July 31, 2024. Following the repurchase, the company plans to cancel all the acquired shares by August 20, 2024, to further consolidate stock value.
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