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Toshiba plans to reward investors with a $7bn stock buyback

Move aimed at pacifying activist shareholders as company emerges from crisis

Toshiba shares hit an 18-month high on Wednesday after announcing plans of a buyback.   © Reuters

TOKYO -- Toshiba announced on Wednesday plans for a share buyback worth about 700 billion yen ($6.95 billion) "at the earliest possible time."

The move is largely in response to growing voices from activist members ahead of the company's annual shareholders meeting scheduled for later this month.

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