Sony Announces $3 Billion Buyback as Memory Prices Hurt Hardware

Sony Group Corp. announced a share buyback of up to ¥500 billion ($3.2 billion), a shareholder-friendly capital return that should support EPS. The company also set out a profit forecast that was largely in line with expectations, signaling stable near-term fundamentals rather than a major surprise.

Analysis

Sony Group Corp. announced a share buyback of up to ¥500 billion ($3.2 billion), a shareholder-friendly capital return that should support EPS. The company also set out a profit forecast that was largely in line with expectations, signaling stable near-term fundamentals rather than a major surprise.