You have to applaud management at NTT DoCoMo (NYSE:DCM) for its latest share buyback. The market has been ugly but what better time is there to buy back shares. Between June 8th and today, DoCoMo bought back 88,713 shares for an aggregate price of approximately 15 billion yen ($131 million). Since last year's shareholder meeting (June 21, 2005) DoCoMo has bought back nearly 2 million of the 2.2 million shares approved for repurchase.
DoCoMo also announced today that mobile industry leaders (including: DoCoMo, Motorola (MOT), NEC (NIPNY), Panasonic Mobile Communications, Samsung Electronics, and Vodafone (NASDAQ:VOD)) plan to create the world's first globally adopted open mobile Linux platform. Click here for the press release.
NTT DoCoMo 1-year chart: