zorg1000 said:
Basically they believe their stock price is undervalued so they will do a buyback and offer the stock again at a later time when the prices have gone back up. At least that's how I understand it.

A likely scenario.

JWeinCom said:
It could also be a case where they don't own enough of their own company, and want to buy back some stock to prevent a takeover... 

No, a buyback doesn't change anything in that regard.  It doesn't give Ninty power as a shareholder.  It just leaves fewer shares outstanding.

Ultimately, it means Ninty doesn't see a better use for their cash.  Buying back stock helps keep the stock price up, which is the basic purpose of a publicly traded company.  So, if Ninty has excess cash, but doesn't see a good way to invest it in the business, returning it to shareholders either through a dividend or buy back is the only way to go.