TOKYO, May 21 (Reuters) - Nissan Motor Co Ltd , Japan's third-largest automaker, said on Wednesday it would seek shareholder approval to buy back up to 1.7 percent of its outstanding shares.
Permission to repurchase up to 75 million of its own shares, or 100 billion yen ($857.3 million) worth, once given by a shareholders' meeting to be held on June 19, would be effective for one year until the next shareholders' meeting.
Nissan earlier confirmed its operating profit grew 51 percent last business year, extending its dramatic revival on the back of sturdy sales in overseas markets. ($1=116.64 yen)