Resolution on acquisition limit
Resolved 4 November 2026Market purchases on the Tokyo Stock Exchange (discretionary trading arrangement with a securities company)The full horizontal line represents all issued shares, with marks at 10% intervals. The colored section represents the percentage stated in the resolution as the maximum proportion that may be repurchased under it.
This is a limit, and does not mean that the company will buy back all of it. The amount actually acquired will be shown in a later disclosure on the status of the acquisition of treasury shares.
5 November 2026 to 4 November 2027
The Company believes that its current market share price does not fully reflect its fundamental earnings power or growth potential and is undervalued even in light of peer-company levels and its past performance. Through this acquisition of treasury shares, the Company aims to improve capital efficiency by increasing earnings per share (EPS) and return on equity (ROE), obtain an appropriate valuation commensurate with its corporate value and future prospects, enhance shareholder returns, and implement a flexible capital policy.
The proportion of treasury shares and the proportion of the acquisition limit cannot be added together because their denominators in the documents may differ, including whether treasury shares are counted.
| Item | Details |
|---|---|
| Class of shares to be acquired | The Company's common shares |
| Maximum number of shares to be acquired | 23.8 million shares (maximum) |
| Percentage of total issued shares | 6.65％ |
| Total acquisition price | ¥10 billion (maximum) |
| Acquisition period | 5 November 2026 to 4 November 2027 |
| Method of acquisition | Market purchases on the Tokyo Stock Exchange (discretionary trading arrangement with a securities company) |
| Reason for acquisition | The Company believes that its current market share price does not fully reflect its fundamental earnings power or growth potential and is undervalued even in light of peer-company levels and its past performance. Through this acquisition of treasury shares, the Company aims to improve capital efficiency by increasing earnings per share (EPS) and return on equity (ROE), obtain an appropriate valuation commensurate with its corporate value and future prospects, enhance shareholder returns, and implement a flexible capital policy. |
| Resolution date | 4 November 2026 |
| Number of shares to be retired | 42.6 million shares |
| Percentage of total issued shares before retirement | 10.00％ |
| Scheduled retirement date | 12 November 2026 |
| Total number of issued shares after retirement | 383,280,000 shares |
| Current number of treasury shares | Treasury shares held in the Company's own name before cancellation: 66,871,577 shares (15.70% of total shares outstanding). Separately, the disclosed total treasury shares after cancellation is 25,824,177 shares, including 1,552,600 of the Company's shares held by the stock compensation trust account. The total includes the trust account. Based on the latest financial results disclosure. |
| Total number of issued shares | The number of treasury shares held in the Company's own name, 66,871,577 shares, is stated as 15.70% of total shares outstanding before cancellation. Total shares outstanding after cancellation will be 383,280,000. The acquisition limit is stated as 6.65% of shares outstanding excluding treasury shares, based on the number as of 30 September 2026. |
Items this document does not state (2)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Returning profits to shareholders, improving capital efficiency, and eliminating market concerns over dilution of share value resulting from future sales of shares, among other factors. The acquisition of treasury shares is intended to improve EPS and ROE, obtain an appropriate valuation commensurate with the Company's corporate value and future prospects, enhance shareholder returns, and implement a flexible capital policy.