Sumitomo Mitsui Trust Holdings Inc. announced May 11 that it plans to repurchase up to 2 million common shares, or 0.53% of its issued shares excluding treasury shares, to improve shareholder return and capital efficiency.

The repurchase will cost up to ¥9 billion and will commence from May 14 to June 29, the company said.

As of May 11, US$1 was equivalent to ¥109.40.