Sumitomo Mitsui Financial (SMFG) has released an update.
Sumitomo Mitsui Financial Group, Inc. (SMFG) has successfully completed the repurchase of 2,392,100 of its common stock shares for JPY 20.83 billion, following a board resolution from November 2023. In addition to the buyback, SMFG has finalized plans to cancel 20,132,000 shares, which is 1.5% of its pre-cancellation issued shares, with the cancellation scheduled for April 20, 2024. This strategic move is part of the company’s effort to enhance shareholder value and optimize its capital structure.
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