Summary by Futu AI
Sony Group Corporation has reported the status of its share repurchase program for June 2024. The company bought back 2,680,700 shares of its common stock for a total of 35,210,255,014 yen between June 1 and June 30, 2024. The repurchase was conducted through open market purchases on the Tokyo Stock Exchange based on a discretionary trading contract.This share buyback is part of a larger program approved by Sony's Board of Directors on May 14, 2024. The program authorizes the repurchase of up to 30 million shares (2.46% of outstanding shares, excluding treasury stock) or a maximum of 250 billion yen, whichever comes first, between May 15, 2024, and May 14, 2025. As of June 30, 2024, Sony has repurchased a total of 3,354,900 shares for 43,731,693,500 yen under this program.Notably, Sony plans to implement a stock split, effective October 1, 2024. Post-split, the maximum number of shares to be repurchased under this program will be adjusted to 150 million shares, reflecting the increased number of outstanding shares after the split.