July 30, 2014 / 8:10 AM / 3 years ago

Konica Minolta president says to continue with share buybacks

TOKYO, July 30 (Reuters) - Konica Minolta Inc’s president told Reuters on Wednesday that the company would like to continue share buybacks after announcing its second-ever on Wednesday in a bid to sweeten up its shareholders by raising return-on-equity.

Shoei Yamana said the Japanese office copier and optical products company would continue share buybacks of around 10 billion yen ($98 million) a year, the amount it said it would buy back on Wednesday when announcing its quarterly earnings.

Konica Minolta also said it would cancel 20 million shares, or 3.8 percent of the total issued, on Aug. 29. ($1 = 102.1700 Japanese Yen) (Reporting by Sophie Knight; Editing by Chris Gallagher)

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