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Article: Japan: Fanuc in $949 mln share buyback, Fujitsu may sell.
- Article from:
- TendersInfo
- Article date:
- August 21, 2009
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Byline: Mamta03
Japanese industrial robot maker Fanuc Ltd (6954.T) will buy back 89.5 billion yen ($949 million) worth of its shares, and shareholder Fujitsu Ltd (6702.T) said it was considering selling its stake.
Fanuc said it will buy back 5 percent of its shares outstanding at Thursday's closing price of 7,460 yen through the Tokyo Stock Exchange's off-hours share buyback platform before the market opens on Friday.
Fujitsu, Japan's biggest IT services company, holds a 5 percent stake in Fanuc and could try to sell its entire stake, spokesman Takashi Koto said, adding that nothing had been decided.
Fanuc said it wanted to secure ...