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FINWIRES

Seven & i Approves 400 Billion Yen Buyback via Accelerated Share Repurchase

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Seven & i (TYO:3382) said it will repurchase 189,663,300 ordinary shares totaling about 400 billion yen through an accelerated share repurchase facility via the Tokyo Stock Exchange's ToSTNeT-3 system on Aug. 3.

The planned repurchase represents about 8.19% of its outstanding shares, excluding treasury stock, according to a Friday filing on the Tokyo Stock Exchange.

The company board has also approved the issuance of its 23rd through 27th series share options to SMBC Nikko Securities through a third-party allotment, supporting its accelerated share repurchase program.

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