Nissan Motor Co., Ltd. today announced that its board of directors resolved the repurchase of its own shares to enhance return to shareholders, balancing its financial strength and needs deriving from future business strategies.
The company board of directors approved a buyback of up to 300 million shares of Nissan’s common stock, or up to 400 billion yen in repurchase amount. The repurchase transaction is commencing from February 29, 2016 and is expected to be executed until December 22, 2016.
There will be no material change in the balance of shareholding with Renault or impact on the governance of the Alliance.
Carlos Ghosn, president and chief executive officer commented, “Return to shareholders is one of Nissan’s key objectives. We took this decision considering our financial status and outlook to continuously generate significant free cash flow.”
Reference (Treasury stock held as of January 31, 2016)
Total number of shares issued (excluding treasury stock): 4,490,747,568 shares
Number of treasury stock: 29,967,544 shares
