Japan’s Fujitsu to Buy Back Up to $1.2 Billion of Its Shares

(Bloomberg) -- Fujitsu Ltd. said it will buy back up to 8.16% of its shares for as much as ¥180 billion ($1.2 billion) from May 1 to March 31 next year.

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The company also forecast an operating income of ¥330 billion for the fiscal year ending March, matching expectations.

The Tokyo-based IT firm has hived off much of its consumer product lineup to focus on communications and information technology systems for businesses. Like Hitachi Ltd. and Toshiba Corp., which saw their fortunes rise during Japan’s postwar economic boom, Fujitsu has been shedding non-core operations.

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