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

TOKYO : Dai Nippon Printing Co Ltd (DNP) said on Thursday it would buy back up to 15.05 per cent 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.