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Nissan to Buy Back Shares
Nissan Motor Co. says in a regulatory filing it intends to spend as much as 400 billion yen ($3.5 billion) this year to buy back nearly 7% of its shares.
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Nissan Motor Co. says in a regulatory filing it intends to spend as much as 400 billion yen ($3.5 billion) this year to buy back nearly 7% of its shares.
The plan aims to bolster the company’s share price, which has tumbled 24% so far this year, according to Bloomberg News. Renault SA, which currently owns 43% of Nissan, has agreed to sell enough of its Nissan shares to maintain the same stake.
Nissan says it will conduct the buyback between now and Dec. 22.
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