(Bloomberg) -- Hitachi Ltd. said it will buy back up to 2.27% of its shares for as much as ¥200 billion ($1.3 billion) and announced a five-for-one stock split.

The Tokyo-based industrial electronics maker, whose shares have climbed near-80% over the past year, said the buyback will begin April 30 and end March 31 next year. The stock split will be effective July 1, it said Friday.

Hitachi was early among Japan’s sprawling industrial conglomerates to hive off noncore operations. It forecast a net income of ¥600 billion for the fiscal year started in April, just missing estimates.

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