Honda Shares Surge 17% to 1,495 Yen on $7 Billion Buyback Amid Nissan Merger Talks

Dec 25, 2024, 12:45 AM

Honda Motor Co. shares surged as much as 17% on Tuesday, reaching 1,495 yen, following the announcement of a $7 billion share buyback program. This move comes amid ongoing merger talks with Nissan Motor, aimed at addressing financial concerns and bolstering investor confidence. The buyback, valued at 1.1 trillion yen, is part of Honda's strategy to strengthen its financial foundation. The surge in Honda's stock price marks the highest level since November 6.