Sony Group will buy back up to ¥500 billion ($3.2 billion) of its shares, the company said as it set out a profit forecast largely in line with expectations on Friday.
For the year through March 2027, the Tokyo-based company expects an operating profit of ¥1.6 trillion, about a 11% increase. Sony improved profitability in the fiscal year just concluded, with its music and smartphone image-sensor businesses making the biggest contributions to growth.
Shares rose as much as 7.3%, their biggest intraday jump in over two months, after Sony’s announcement.
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