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Sony to buy back up to 4.8% of stock through March 2020

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Reuters reports:

Sony Corp said on Thursday it would buy back shares worth up to 200 billion yen ($1.83 billion), or 4.8% of stock, through March 31, 2020, in an effort to boost shareholder returns.It follows a share buyback of 100 billion yen, its first ever, announced in February.
Reuters has reported that Daniel Loeb’s hedge fund Third Point LLC is building a stake in Sony again to push for changes that include shedding some businesses.

The past weeks nearly the whole Stock market had a 30% crash. I guess Sony is taking the chance to strengthen their position within the company and have more power against speculators like Daniel Loeb.

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