May 16, 2019 / 6:39 AM / 2 months ago

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

FILE PHOTO: Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Sony Corp said on Thursday it would buy back shares worth up to 200 billion yen (1.4 billion pounds), 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.

Reporting by Makiko Yamazaki; editing by Christian Schmollinger

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