Suzuki Chairman Suzuki and Winterkorn of Volkswagen (in 2009)

Suzuki buys back 470 billion worth of overall shares from Volkswagen, September 17 report

Suzuki announced that they have already bought back their own shares that Volkswagen possessed from Tokyo Stock Exchange Trading NeTwork System (ToSTNeT-3) on September 17, 2015.

The International Chamber of Commerce Arbitration Court has ordered Volkswagen to sell Suzuki’s shares after the arbitration decision brought about by the cancellation of the business tie-up of Volkswagen and Suzuki on August 29.

Suzuki has requested VW to dispose Suzuki’s shares to the ToSTNet-3 of Tokyo Stock Exchange Trading NeTwork System consequently after the arbitration decision, and it was finally settled on September 17.

On September 16, Suzuki settled with a closing price of 3,842.50 yen to acquire their own shares. They predicted that they will be acquiring the amount of 470 billion yen approximately. Suzuki originally bought Volkswagen stocks for 200 billion yen; hence, the latter will earn a large amount of profit.

(Translated by Claire Marie Sausora)