ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Mitsubishi Estate plans first-ever stock buyback

Property developer pivots to investor returns as earnings improve

Mitsubishi Estate completed the Marunouchi Nijubashi office building in Tokyo last October.

TOKYO -- Japanese property developer Mitsubishi Estate will buy back up to 100 billion yen ($913 million) of its shares, marking the company's first stock repurchase as domestic businesses increasingly look to put their cash piles to effective use.

The buyback will target a maximum of 65 million shares -- or 4.68% of those outstanding apart from treasury stock -- according to Tuesday's announcement. Furthermore, Mitsubishi Estate will aim for a dividend payout ratio of 30%, compared with the previous range between 25% and 30%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more