According to a report from the Nihon Keizai Shimbun, via AFX on Forbes, DoCoMo is expected to miss its target for buying back its shares after the firm’s free cash flow, the main source of funding, fell sharply in the 2006 fiscal year which ended March 31st.
At the 2006 stockholders meeting, a plan was approved to buy back up to 1.4 mln shares for no more than 250 bln yen before this year’s meeting, slated for June 19. The shares repurchased through Friday total slightly less than 950,000, at a cost of 180.2 bln yen or USD $1.4 bln.
Perhaps they missed the “up to” disclaimer mentioned in the approved FYE 2006 plan? Meanwhile, see DoCoMo’s announcement Here with (much lower) targets stated for fiscal 2007.