Central Glass agrees to activist demands to buy back its shares

TOKYO : Central Glass Co said on Tuesday it will buy back up to 33.24 per cent of own shares in tender offer as part of its effort to bolster its corporate value following suggestions by Japanese activist investor Yoshiaki Murakami and others.

Central Glass will spend as much as 50 billion yen ($348.1 million) to buy back its own shares at 3,500 yen per a share, the company said in a statement.

($1 = 143.6500 yen)