Yahoo Japan Corp. (4689) surged 15 percent after the Internet company boosted its operating profit forecast and said it would buy back shares. Central Japan Railway Co. gained 6.3 percent after reporting a 49 percent gain in net income. Softbank Corp. (9984) advanced 1.6 percent after the Nikkei newspaper said the mobile- phone carrier may post a record operating profit boosted by sales of Apple Inc.’s iPhone.
“Expectations for faster growth, which the company hasn’t seen in years, are driving gains for Yahoo Japan’s shares,” said Takashi Oba, a senior strategist at Okasan Securities Co. “The buyback plan is also fueling today’s gains.”
If YHOO Japan will do shares buyback it will not be a public shares because it will benefit YHOO stakes. I have feeling they will negotiate to buyback YHOO 35% stakes instead. I think this is no brainer, we will have YHOO and YHOO Japan buyback deal to be announced.