Rohm to cancel 2.95 percent of own shares

TOKYO May 11 (Reuters) - Japanese specialty chip maker Rohm Co Ltd (6963.T) (6963.OS) said on Monday it would cancel 3.5 million, or roughly 2.95 percent, of its own shares on May 29.

Rohm is fielding a proposal from investor Brandes Investment Partners that it buy back up to 15 billion yen ($153 million) worth of its own shares within the next year. (Reporting by Mayumi Negishi)