TOKYO : Shares of Dai Nippon Printing Co Ltd (DNP) jumped 13 per cent on Friday, a day after the Japanese component supplier promised its largest ever share buyback, getting activist shareholder Elliott Management Corp's backing as the company set new financial targets.The major automotive battery compone
TOKYO : Shares of Dai Nippon Printing Co Ltd jumped 13 per cent on Friday, a day after the Japanese component supplier promised its largest ever share buyback, getting activist shareholder Elliott Management Corp's backing as the company set new financial targets.
Elliott, which sources said have built a"significant" stake in DNP, released a statement on Friday welcoming the plan. With about half of listed Japanese firms trading below their book value, the Tokyo bourse is planning to urge companies with underperforming stocks to discuss and disclose measures to improve capital efficiency.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dai Nippon Printing surges on its largest ever share buyback planTOKYO : Shares of Dai Nippon Printing Co Ltd (DNP) surged on Friday after the Japanese automotive battery component supplier said it planned to conduct a share buyback larger than any of its previous repurchases.DNP shares closed the morning session up 12.6 per cent at 3,585 yen, far outperforming the Nik
Read more »
Japan's Nippon Steel to pay record FY dividend on rising profitJapan's top steelmaker Nippon Steel Corp on Thursday posted a 2 per cent increase in April-December net profit to 517 billion yen ($4 billion) and said it would pay a record-high full-year dividend of 180 yen per share. Nippon Steel, which kept its full-year net profit forecast unchanged at 670 billion ye
Read more »
Chinese state media, AI companies warn of risks in ChatGPT stock frenzySHANGHAI : Chinese state media on Thursday cautioned against risks in chasing ChatGPT-concept stocks, while artificial intelligence (AI) companies urged investors to be rational after their soaring share prices caught regulators' attention.Frenzy around the ChatGPT chatbot has spurred speculative bets in
Read more »
Hanwang, bellwether of Chinese ChatGPT frenzy, says big shareholders sold stakesSHANGHAI : Hanwang Technology Co Ltd, widely seen as a bellwether of Chinese interest in ChatGPT-concept stocks, on Friday said several major shareholders reduced stakes over the past few days as it flagged risks following a share price surge.Henan Yellow River Computer System Co Ltd, a top 10 shareholder
Read more »
AMD wins nearly a third of processor market, Arm's climb slows, analyst reportAdvanced Micro Devices Inc has captured nearly a third of the market for central processor units while British chip technology firm Arm Ltd's rise in the PC market slowed in the fourth quarter of 2022, according to an analyst report.AMD has grabbed share away from Intel Corp, which still remains the large
Read more »
Chinese state media, AI companies warn of risks in ChatGPT stock frenzySHANGHAI – Chinese state media on Thursday (Feb 9) cautioned against risks in chasing local ChatGPT-concept stocks, while domestic artificial intelligence (AI) companies urged investors to be rational after their soaring share prices caught regulators' attention. ChatGPT, a chatbot developed by US firm OpenAI and backed by Microsoft Corp, gives strikingly human-like responses to user queries. Frenzy around the technology...
Read more »