FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo
June 13, 2018
TOKYO (Reuters) – Toshiba Corp said on Wednesday that it would buy back around 700 billion yen ($6.33 billion) in shares as soon as possible after selling its memory chip business for $18 billion.
Shares of the company rose 5 percent after the news.
Toshiba, which had promised to reward shareholders after years of crisis and coming close to a delisting, said it will carefully consider the timing and method of the repurchases but aimed to carry them out as soon as possible.
(Reporting by Ritsuko Ando; Editing by Himani Sarkar)
