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Sony stock perks up after first-ever share buyback announcement

Reuters  |  TOKYO 

By Makiko Yamazaki and Ritsuko AndoTOKYO (Reuters) - Sony Corp announced its first-ever share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover somewhat from the hammering it received earlier in the week when the technology firm reported lacklustre earnings.The announcement marked Japan's second major buyback this week after technology investor SoftBank Group Corp said it would repurchase 600 billion yen worth of stock on Wednesday, sending its share price soaring.Both stocks had been under pressure prior to the announcements reflecting investor unease over ...

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First Published: Fri, February 08 2019. 08:51 IST