Update on DoCoMo's Share Repurchase (DCM)

 |  About: NTT DoCoMo, Inc. (DCM)
by: Steven Towns

NTT DoCoMo (DCM) announced earlier today in Japan that it repurchased 91,130 shares of common stock between Feb. 13-24, with an aggregate price of shares just under 16 billion yen or approximately US$136 at the current exchange rate. DoCoMo cited goals of "improving capital efficiency and implementing flexible capital policies in accordance with the business environment" as reasons for the buyback.

DoCoMo received shareholder approval at its annual meeting last June to repurchase up to 2.2 million shares of common stock for an aggregate price of up to 400 billion yen. So far DoCoMo has repurchased about 77% of these shares or nearly 1.7 million shares for 238.2 billion yen. DoCoMo has 48.7 million shares issued and outstanding.

Note: DoCoMo's ADRs were issued at a 100:1 ratio to its ordinary shares. DoCoMo's ordinary shares traded in Tokyo closed Friday down 1.14% at 174,000 yen per share (approx. US$1,484 at the current exchange rate).

DCM 1-yr chart: