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 read: Sony 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.