Nomura Holdings Inc. on Monday reaffirmed the status of its ongoing share buyback program. The announcement follows the decisions made in its Board of Directors meeting on April 26, 2018.
During the meeting, it was decided that Nomura will repurchase up to 100 million of its Nomura Holding common shares. The total shares will have a value of up to ¥70 billion (around $632 million).
According to the statement, the shares will be repurchased between May 16, 2018, to March 29, 2019. Altogether, they make up 2.7 percent of outstanding shares. They will be repurchased on the stock exchange via a trust bank.
So far, no shares apart of the program have been repurchased. A Representative Executive Officer or the CFO will decide the details of the trust agreement separately. This includes the timing to start the buyback.
Viberate Teams Up with Blockparty to Deliver World’s First Live Event NFTGo to article >>
Nomura initially announced the details of the share buyback program on June 1, 2018. Since then, no further details have emerged in regards to when the company will begin to repurchase the shares.
Nomura Holdings, Inc. is a Japanese financial holding company. It is the principal member of the Nomura Group. The company provides investment, financing, and related services to individual, institutional and government customers in more than 30 countries around the world. The company has many subsidiaries such as its broker-dealer, as well as others in banking and other financial services.
Last week, Nomura also released its annual report for the year ending March 31, 2018. The results showed revenue for 2018 was ¥1,972,158, an increase of 15 percent year on year.
The report, which was filed with the US Securities and Exchange Commission on June 25, 2018, also showcased that net income for 2018 decreased by 7.5 percent year on year to ¥224,292.
This was echoed in the company’s fourth-quarter financial results for the year ending March 2018. In the report, it also showed that despite a growth in revenues, the company saw a decrease in net income due to a variety of factors.