Bloomberg News

Capcom Rises Most in Three Weeks on $37 Million Buyback Plan

June 08, 2011

(Updates with amount of buyback plan in third paragraph.)

June 9 (Bloomberg) -- Capcom Co., publisher of the “Resident Evil” and “Monster Hunter” video-game series, rose the most in three weeks in Tokyo trading after announcing plans to buy back as much as 2.2 percent of its shares.

Capcom advanced as much as 4.5 percent, the biggest intraday gain since May 18, and traded 3 percent higher at 1,766 yen as of 9:53 a.m. on the Tokyo stock exchange. The benchmark Topix index fell 0.5 percent.

The Osaka-based company plans spend as much as 3 billion yen ($37 million) to buy back 1.5 million shares from today until July 20, it said in a statement yesterday after the market closed.

Capcom owned 8.6 million shares, or 12.8 percent of its outstanding stock, as of May 31, according to the statement.

--Editors: Lena Lee, Dave McCombs

To contact the reporters on this story: Kazuyo Sawa in Tokyo at ksawa3@bloomberg.net;

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.


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