Sony, which has relocated to exit the Australian smartphone market and is struggling in the television market, has moved to support their stock value with a $ 1.2 billion repurchase.
The move comes as Sony moves to promote its ability to create content that embraces film, music and animation on new consumer electronic products.
The shares of the week of Las in California have decreased by more than 14%, but after the announcement of the repurchase
Sony shares rose 6.7% in the last trading phases of Friday in Japan.
The repurchase, which is the largest Japanese company ever and its first goal to increase shareholder returns, following a recent fall in the price of shares and global concerns that the company has become uncompetitive in different consumer electronic markets.
At their CES press conference in 2019, the focus was on creating content, much to the disappointment of the journalists who had been waiting for numerous announcements of new products.
Sony is not the only one among Japanese companies that are trying to support budgets.
Analysts argue that Japanese consumer electronics and home appliances companies are on track to reach a record level of stock repurchases during the 2018-2019 fiscal year, as companies need to lobby for capital gains precisely in the wake of greater attention to corporate governance and investor management.
Sony's shares rose to 6.7% in early trading on Friday after the Japanese electronics and entertainment group announced that it would buy back up to 2.36% of its shares listed in Tokyo from February 12 to March 22 .
Recently Sony has announced a downward revision of the annual revenue forecasts on lower sales expectations for image sensors and smartphones, their television activities are still emitting hundreds of millions.
After signing one-time tax credits, Sony's quarterly net profit fell 43% from the previous year.
Despite current concerns about a slowdown in China and a decline in global smartphone sales, Sony is expected to generate record profits for the second year in a row under the managing director Kenichiro Yoshida, who is credited for running the group's turnaround efforts. .
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