TOKYO -- Share buybacks by Japanese companies will reach their highest level in 16 years in the fiscal year ending this month, topping 9 trillion yen ($67.6 billion) and surpassing the record set in fiscal 2006, when growth in emerging economies led to strong corporate performances in Japan.
Mitsui & Co., a trading company, is planning its largest-ever buyback, and industrial conglomerate Hitachi will conduct its first buyback in eight years. Although Japanese corporate earnings are generally declining, there is a clear trend to give some of companies' abundant cash reserves back to shareholders in response to investor demands.
