Japan's Dai Nippon Printing to buy back up to 15.05% of shares

Dai Nippon Printing Co

09/03/2023 06:04

TOKYO, March 9 (Reuters) - Dai Nippon Printing Co Ltd
(DNP)  7912.T  said on Thursday it would buy back up to 15.05%
of its outstanding shares from Friday, as it faced pressure from
activist shareholder Elliott Management Corp.    
    The major automotive battery components maker said last
month it planned to carry out its largest ever share buyback to
boost capital efficiency, after sources said Elliott built a
"significant" stake in DNP.  urn:newsml:reuters.com:*:nL4N3490WL urn:newsml:reuters.com:*:nL1N34Q07S
    

 (Reporting by Makiko Yamazaki
Editing by Shri Navaratnam)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))