Buffett-backed Mitsubishi stock beats sell-off on new buyback, ROE targets

Buffett-backed Mitsubishi stock beats sell-off on new buyback, ROE targets Buffett-backed Mitsubishi stock beats sell-off on new buyback, ROE targets

TOKYO — Japanese trading house Mitsubishi Corp. will conduct a share buyback of up to 1 trillion yen ($6.83 billion), the group said on Thursday.

Mitsubishi, which counts U.S. billionaire Warren Buffett’s Berkshire Hathaway among its investors, plans to repurchase up to 689 million shares, about 17% of its total outstanding shares excluding those that the company already holds.