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Sumitomo Mitsui Financial to buy back up to ¥70B of shares

Sumitomo Mitsui Financial Group Inc. will repurchase up to ¥70 billion of its own shares.

The Japanese company is set to buy back up to 20 million shares, representing 1.4% of the number of shares issued, between May 15 and July 31, according to a May 14 release.

Further, the company will cancel all the shares repurchased on Aug. 20.

As of May 14, US$1 was equivalent to ¥109.61.