Japan firms’ share buybacks to reach record level in 2023: survey

The total amount of share buybacks in 2023 by companies listed on the Tokyo bourse is likely to come close to last year’s record level of 9.2 trillion yen ($66.1 billion), a recent survey by a major securities brokerage firm found.

Since the start of the year, stock buybacks worth 4.6 trillion yen have been announced as of May 16, SMBC Nikko Securities Inc. said.

Market analysts say increased share buybacks are one of the reasons behind the 225-issue Nikkei Stock Average’s rally to its 33-year high above the 30,000 mark in May.

The number of listed firms that announced share buyback schemes sh...