Daiwa Securities Group Inc. plans to repurchase up to 50 million of common shares for up to ¥30 billion.
The shares represent 3.19% of the company's total shares outstanding. Daiwa Securities said the share repurchase will enhance shareholder returns through the improvement of capital efficiency.
The company will repurchase the shares from Aug. 22 to March 24, 2020.
As of July 31, US$1 was equivalent to ¥108.60.