TOKYO -- Tokyo Gas will repurchase up to 120 billion yen ($800 million) in stock during the first half of fiscal 2025, the utility said Wednesday, in a shift back toward shareholder returns as major growth investments have struggled to bear fruit.
The full amount would match the record 120 billion yen in buybacks the Japanese utility conducted in all of fiscal 2024, and do so in half the time. Tokyo Gas said it will consider further buybacks in the second half "based on company performance," and raised its annual dividend for fiscal 2024 by 10 yen per share to 80 yen.
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