dark        

Stalk market: Nintendo completes share buyback

0

Founding family sells 'some' shares

Nintendo has completed its 114 billion-yen ($1.1 billion) share buyback. Nintendo CEO Saturo Iwata announced the company would be using its cash reserves and "stepping up share buybacks" last week.

In reducing the number of shares on the market by buying back existing stock, it offers stability for shareholders who will continue to hold stock in the company by increasing the value of the shares left on the market.

Businessweek also noted Hiroshi Yamauchi's heirs, who inherited almost 10 percent of company stock following his death last year, sold back some of their stake in the company. Given the high inheritance tax they have to pay, it's possible that they're covering that cost under the buyback terms. Nintendo does not know exactly how many shares the heirs sold back.

Not that it matters. Unless they somehow bogarted the entire buyback, which would've sucked for other shareholders trying to cash out.

Nintendo Completes Buyback as Founding Family Sells Shares (1) [Businessweek]


You are logged out. Login | Sign up

 
 

 

TwitterRedditEmailFacebook
 
Steven Hansen
Steven HansenContributor   gamer profile

Steven watches anime & sports, buys meat out of trucks, dates a Muppet, and is only good at cooking. He stands before you bereft of solace and well on the road to perdition. ('^ω^) more + disclosures


 



Filed under... #Industry Bull #Money #News #Nintendo

READER COMMENTS LOADING BELOW...


LET'S KEEP THE COMMUNITY GREAT


You're not expected to always agree, but do please keep cool and never make it personal. Report harassment, spam, and hate speech to our community team. Also, on the right side of a comment you can flag nasty comments anonymously (we ban users dishing bad karma). For everything else, contact us!



 
 
 
 
spacer