Itochu Corporation (TYO8001 or ITOCY) is continuing with the buybacks they announced during the Board of Directors meeting from June 12 2020. Maybe this was one of the reasons why Warren Buffett decided to invest in Itochu (among other trading houses).
During the meeting the Board of Directors decided to buy back up to 35 Million total shares of Itochu. As of October 1 2020 they purchased about 5.6 Million of those shares so far.
The Itochu Buybacks will go on from June 12 2020 to June 11 2021 and the total amount allocated was 70 Billion Yen.
Despite Coronavirus Itochu is one of the companies that continued their buybacks plan. If you are interested in learning more about the company check out our latest posts about Itochu.