MegaChips extends rally to seventh day on swing to first-quarter profit and buyback of up to 1 million shares, 10 billion yen

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MegaChips extended its gains and rose for a seventh straight session. The company reported a swing to a profit in its first-quarter results the previous day and announced it will conduct a share buyback of up to 1 million shares, equivalent to 7.1 percent of outstanding shares, for a maximum of 10 billion yen, funded by an upward revision in gains from the sale of SiTime shares. These factors were seen as positive.

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