Dentsu Buys Back $35m of Its Own Stock

28 February 2003

In a move described as “part of a framework … designed for the purpose of executing flexible capital management policies”, top Japanese agency network Dentsu repurchased 10,725 shares of its own common stock on the Tokyo Stock Exchange between February 7-26 at a total of $35.2 million (¥4,142.71m; €32.73m; £22.30m).

The move is in line with a resolution approved at the company's annual shareholders meeting last June, at which it was agreed to repurchase up to 70,000 shares of common stock.

Dentsu is Japan’s largest agency by far and is ranked by Advertising Age at number five (by 2001 gross revenues) in the world charts.

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