Canon climbs to three-week high after share buyback announcement
TOKYO (Reuters) - Shares in Canon Inc advanced 2.4 percent to a three-week high of 3,154 yen on Wednesday after it said it will buy back up to 50 billion yen ($488.5 million) worth of its own shares, or 1.6 percent of its outstanding shares.
Canon shares are down 5.5 percent since the start of 2014, adding to a 0.3 percent drop last year, when the benchmark Nikkei rallied 57 percent.
($1 = 102.3550 Japanese yen)
(Reporting by Dominic Lau)
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