TOKYO (dpa-AFX) - King Street, one of Toshiba's (TOSYY.PK, TOSBF.PK) largest shareholders, owning 6.5% on October 3, 2018, has requested Toshiba to implement an accelerated and increased share buyback of 1.1 trillion yen to make the best use of excess capital.
King Street said while Toshiba announced a 700 billion yen share buyback on June 13, 2018, the continued delays in implementation threaten to significantly impair shareholder returns. King Street noted that the announced amount falls materially short of Toshiba's excess capital.
'Our analysis indicates that Toshiba is severely undervalued and would generate extraordinary returns by investing in its own stock today,' King Street stated.
Copyright RTT News/dpa-AFX