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Toshiba Plans Biggest Japanese Market Buyback on Record

Toshiba Corp. has announced plans to buy back shares worth nearly ¥700 billion (US$6.3 billion), which would rank as the biggest buyback from the market on record in Japan, reports MarketWatch (June 13, Narioka). Such foreign funds as Greenlight Capital Inc. and Third Point LLC have taken a growing role at the Japanese conglomerate since it raised ¥600 billion in last year's fourth quarter to bolster its balance sheet. Foreign shareholders accounted for 72 percent of total shares at Toshiba as of the end of this year's first quarter.

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