Canon Climbs High After Share Buyback Announcement

Source: Reuters

Shares in Canon Inc (7751.T) advanced 2.4 percent to a three-week high of 3,154 yen on Wednesday after it said it will buy back up to 50 billion yen worth of its own shares, or 1.6 percent of its outstanding shares.

Canon shares are down 5.5 percent since the start of 2014, adding to a 0.3 percent drop last year, when the benchmark Nikkei rallied 57 percent.