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  Nintendo Seeks to Buy Back Shares
Time: 04:42 EST/09:42 GMT | News Source: Associated Press | Posted By: Alex Harris

Japanese video game giant Nintendo (news - web sites) Ltd said on Thursday it seeks shareholder approval for a scheme to buy back up to 14 million of its own shares -- or 9.88 percent of shares outstanding -- or up to $2.01 billion worth.

The plan requires permission from the company's shareholders at a meeting to be held on June 27. Nintendo is that latest Japanese company to set up share buyback plans to boost management flexibility by holding all or part of the re-purchased shares as treasury stock or to cancel them to boost per-share value.

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