Yahoo Japan Mulling Buying Back 200 B. Yen of Own Shares
Tokyo, July 10 (Jiji Press)--Internet portal Yahoo Japan Corp. <4689> is considering buying back own shares worth some 200 billion yen, apparently in an effort to stem the downtrend of its stock prices, informed sources have said.
The company's share prices on the Tokyo Stock Exchange's first section started to decline after an executive of U.S. investment company Altaba Inc. signaled its plan to sell Yahoo Japan shares it holds.
Altaba is the second-largest shareholder of Yahoo Japan, with an equity stake of over 30 pct. Its top shareholder is Softbank Group Corp. <9984>, a Japanese Internet and telecommunications business conglomerate.
Yahoo Japan stock ended at 360 yen on Monday, down by more than 30 pct from its highs above 530 yen in January.
[Copyright The Jiji Press, Ltd.]