Japanese Watch Giant Citizen Profits Hit a Seven-year High, Stock Price Surges by 40%

3月 09, 2023

On February 13th, Japanese watch giant Citizen announced its major financial data for the first three quarters of the 2022 fiscal year ending on December 31, 2022. Driven by its watch business, net sales increased by 6.8% year-on-year to JPY 230.178 billion, while net profit attributable to the parent company increased by 14.6% year-on-year to JPY 19.697 billion, reaching a seven-year high.
At the same time, Citizen announced a share buyback plan to repurchase up to 25.61% of its outstanding shares during the period between February 16, 2023, and February 15, 2024, in order to improve …