Sony to buy back up to 4.8% of stock through March 2020
TOKYO (Reuters) - Sony Corp said on Thursday it would buy back shares worth up to 200 billion yen (1.4 billion pounds), or 4.8% of stock, through March 31, 2020, in an effort to boost shareholder returns.
It follows a share buyback of 100 billion yen, its first ever, announced in February.
Reuters has reported that Daniel Loeb's hedge fund Third Point LLC is building a stake in Sony again to push for changes that include shedding some businesses.
(Reporting by Makiko Yamazaki; editing by Christian Schmollinger)