Yahoo Japan, Yahoo End Talks On Share Buyback, Possibility Of Further Negotiation

Posted on Apr 24 2012 - 11:00am by Editorial Staff

According to Japan’s chief financial officer Toshiki Ohya, Yahoo Japan is in talks with key shareholder Yahoo for a share buyback have ended with no agreement, but what the company left open is the possibility of further negotiation. “We want to positively consider resuming negotiations if the conditions are right,” Ohya told reporters.

Yahoo recently reported results for the first quarter ended March 31, 2012. Revenue excluding traffic acquisition costs was $1,077 million for the first quarter of 2012, a 1 percent increase from the first quarter of 2011. Income from operations decreased 11 percent to $169 million in the first quarter of 2012, compared to $190 million in the first quarter of 2011.

Moreover, the company recently announced plans to lay off some 2,000 employees earlier this month, and had also confirmed that it will be closing or consolidating fifty of its sites, as well as part of its restructuring plan.

(Image Source: Yahoo logo, Featured Image)

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