Flexible Capital Policy Through Share Repurchases
First written in FY2016. 18 of 28 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Over the two fiscal years from FY2024 to FY2025, the Company invested ¥50 billion in its own shares in line with its policy. It plans to continue making such investments flexibly from FY2026 onward.」
Under the Phase I policy of acquiring ¥50 billion to ¥60 billion of treasury shares, the Company acquired ¥50 billion over the two fiscal years from FY2024 to FY2025. Under the FY2026 acquisition program, it acquired 8,219,400 shares for ¥18.52055 billion and made additional acquisitions in April. - FY2026-H1SoftenedAnnual report
「Maximum number of shares that may be acquired 15 million shares (maximum) Maximum total acquisition cost ¥20 billion (maximum) Acquisition period 6 August 2025 to 30 April 2026」
The new treasury share acquisition program is capped at 15 million shares and ¥20 billion, reduced from the previous limits of 20 million shares and ¥30 billion. Meanwhile, the Company had acquired 4,636,200 shares for approximately ¥9.091 billion by the end of September. - FY2025-H1AdvancedAnnual report
「Regarding the acquisition of treasury shares resolved at the Board of Directors meeting held on 14 May 2024 pursuant to Article 156 of the Companies Act as applied by replacing the relevant terms under Article 165, paragraph 3 of the same Act, the Company implemented the acquisition as follows. Maximum number of shares that may be acquired 20 million shares (maximum) Maximum total acquisition cost ¥30 billion (maximum)」
For the treasury share acquisition capped at 20 million shares and ¥30 billion, the Company acquired 5,150,400 shares for approximately ¥10.576 billion by 30 September 2024. It acquired a further 1,568,200 shares for approximately ¥3.290 billion by the filing date. - FY2024RaisedAnnual report
「During the current fiscal year, the Company acquired 15,514,800 treasury shares at a total cost of ¥29,999,964,550.」
For the previous acquisition capped at 20 million shares and ¥30 billion, the Company acquired approximately 15.51 million shares for approximately ¥30 billion during the fiscal year and resolved in May 2024 to conduct a new acquisition capped at 20 million shares and ¥30 billion. It also cancelled 16 million treasury shares. - FY2024-Q2AdvancedAnnual report
「① Details of treasury shares acquired by 30 September 2023 Class of shares subject to acquisition The Company’s common shares Total number of shares acquired 6,196,500 shares Total acquisition cost ¥11,706,037,850 Acquisition period 29 May 2023 to 22 September 2023 Acquisition method Market purchases on the Tokyo Stock Exchange」
For the treasury share acquisition capped at 20 million shares and ¥30 billion, the Company acquired 6,196,500 shares for approximately ¥11.706 billion through market purchases by the end of September. - FY2024-Q1AdvancedAnnual report
「Maximum number of shares that may be acquired 20 million shares (maximum) Maximum total acquisition cost ¥30 billion (maximum) Acquisition period 29 May 2023 to 10 May 2024 Total number of shares acquired 2,606,000 shares Total acquisition cost ¥4,971,770,250」
For the treasury share acquisition capped at 20 million shares and ¥30 billion, the Company acquired 2,606,000 shares for approximately ¥4.972 billion through market purchases by the end of June. - FY2023RaisedAnnual report
「Maximum number of shares that may be acquired 20,000,000 shares (maximum) Maximum total acquisition cost ¥30,000,000,000 (maximum) Acquisition period 29 May 2023 to 10 May 2024」
The Company resolved to increase the limits for its treasury share acquisition to 20 million shares and ¥30 billion, and had acquired 734,000 shares for approximately ¥1.406 billion by the filing date. - FY2023-Q3AdvancedAnnual report
「The main factors behind the decrease were reductions in cash and deposits due to repayment of external borrowings, dividend payments, tax payments and the purchase of treasury shares.」
The purchase of treasury shares continued to be reported as a factor reducing cash, while the treasury share balance increased from ¥9.032 billion at the end of the previous consolidated fiscal year to ¥14.029 billion. - FY2023-Q2AdvancedAnnual report
「Net cash used in financing activities during the current second quarter cumulative period was ¥12.381 billion, compared with ¥10.491 billion in the same period of the previous year. The main components were outflows of ¥2.049 billion for repayment of long-term borrowings, ¥5.001 billion for the acquisition of treasury shares and ¥6.034 billion for dividend payments.」
The Company acquired ¥5.001 billion of treasury shares during the second quarter cumulative period, demonstrating concrete progress in its flexible capital policy, including treasury share acquisitions. - FY2023-Q1AdvancedAnnual report
「(1) Reason for acquiring treasury shares To improve capital efficiency and enable the flexible execution of capital policies (2) Details of the acquisition Class of shares subject to acquisition The Company’s common shares Maximum number of shares that may be acquired 3 million shares (maximum) Maximum total acquisition cost ¥5 billion (maximum) Acquisition period 12 May 2022 to 23 December 2022 (3) Results of the acquisition ① Details of treasury shares acquired by 30 June 2022 Total number of shares acquired 1,865,000 shares Total acquisition cost ¥3,170,865,000 Acquisition period 12 May 2022 to 30 June 2022 Acquisition method Market purchases on the Tokyo Stock Exchange ② Details of treasury shares acquired on or after 1 July 2022 Total number of shares acquired 416,200 shares Total acquisition cost ¥713,398,800 Acquisition period 1 July 2022 to 31 July 2022 Acquisition method Market purchases on the Tokyo Stock Exchange」
For the acquisition of treasury shares capped at 3 million shares and ¥5 billion, the Company acquired 1,865,000 shares for approximately ¥3.171 billion by the end of June and a further 416,200 shares for approximately ¥713 million in July through market purchases. - FY2022AdvancedAnnual report
「(1) Reason for acquiring treasury shares To improve capital efficiency and enable the flexible execution of capital policies (2) Details of the acquisition Class of shares subject to acquisition The Company’s common shares Maximum number of shares that may be acquired 3 million shares (maximum) Maximum total acquisition cost ¥5 billion (maximum) Acquisition period 12 May 2022 to 23 December 2022」
The Company resolved to acquire up to 3 million shares for a maximum of ¥5 billion to improve capital efficiency and enable a flexible capital policy, and had acquired 1,865,000 shares for approximately ¥3.171 billion by the filing date. - FY2022-Q2RestatedAnnual report
「Cash outflows for the acquisition of treasury shares △ 1 △ 2」
Cash outflows from the acquisition of treasury shares were ¥2 million in the first half, indicating the continuation of a flexible capital policy that includes treasury share acquisitions. - FY2021RestatedAnnual report
「The Company consistently recognizes returning profits to shareholders as one of its most important corporate priorities. In addition to stable dividend payments, it acquires treasury shares while taking into account cash flow conditions and other factors. As a basic policy, the Company aims to limit its holdings of treasury shares to approximately 5% of the total number of shares issued and generally cancels treasury shares held in excess of that level each fiscal year.」
The Company reaffirmed its capital policy of combining stable dividends with treasury share acquisitions and explicitly stated its policy of limiting treasury share holdings to approximately 5% of shares issued. - FY2020AdvancedAnnual report
「The main components were proceeds of ¥8.852 billion from long-term borrowings, offset by outflows of ¥8.415 billion for repayment of long-term borrowings, ¥7.844 billion for the acquisition of treasury shares and ¥6.312 billion for dividend payments.」
The Company acquired ¥7.844 billion of treasury shares during the fiscal year and continued its flexible capital policy. - FY2020-Q3AdvancedAnnual report
「As of the end of the current third quarter consolidated accounting period, the number of treasury shares was 12,798,354. In addition, 313,000 shares of the Company held by the trust under the executive stock compensation plan, representing 3,130 voting rights, were treated as treasury shares on the quarterly balance sheet.」
Against a backdrop of treasury share acquisitions and other factors, the Company disclosed 12,798,354 treasury shares at the end of December. - FY2020-Q2AdvancedAnnual report
「① Details of treasury shares acquired by 30 September 2019 • Class of shares subject to acquisition The Company’s common shares • Total number of shares acquired 5,955,800 shares • Total acquisition cost ¥7,942,139,500 • Acquisition period 21 December 2018 to 30 September 2019 • Acquisition method Market purchases on the Tokyo Stock Exchange」
For the acquisition of treasury shares intended to improve capital efficiency and enable a flexible capital policy, the Company disclosed the acquisition of 5,955,800 shares for approximately ¥7.942 billion by the end of September. - FY2020-Q1AdvancedAnnual report
「(1) Reason for acquiring treasury shares To improve capital efficiency and enable the flexible execution of capital policies (2) Details of the acquisition • Maximum number of shares that may be acquired 8 million shares (maximum) • Maximum total acquisition cost ¥10 billion (maximum) • Acquisition period 21 December 2018 to 20 December 2019 (3) Results of the acquisition ① Details of treasury shares acquired by 30 June 2019 • Total number of shares acquired 3,535,600 shares • Total acquisition cost ¥4,641,369,200 • Acquisition period 21 December 2018 to 30 June 2019 • Acquisition method Market purchases on the Tokyo Stock Exchange ② Details of treasury shares acquired on or after 1 July 2019 • Total number of shares acquired 859,800 shares • Total acquisition cost ¥1,225,139,000」
For the acquisition of treasury shares intended to improve capital efficiency and enable a flexible capital policy, the Company disclosed the acquisition of 3,535,600 shares for approximately ¥4.641 billion by the end of June and a further 859,800 shares for approximately ¥1.225 billion in July. - FY2019AdvancedAnnual report
「Net cash used in financing activities was ¥3.916 billion. The main components were a net change in short-term borrowings of ¥3.028 billion, proceeds of ¥521 million from long-term borrowings, and outflows of ¥3.335 billion for dividend payments, ¥2.263 billion for the acquisition of treasury shares and ¥1.868 billion for repayment of long-term borrowings.」
As part of its flexible capital policy, the Company acquired ¥2.263 billion of treasury shares during the fiscal year. A resolution of the Board of Directors set limits of 8 million shares and ¥10 billion. - FY2019-Q2AdvancedAnnual report
「Cash outflows for the acquisition of treasury shares △ 94」
An outflow of ¥94 million from the acquisition of treasury shares was recorded during the current second quarter cumulative period, and the number of treasury shares at the end of September was 11,575,010. The Company continues to implement a flexible capital policy. - FY2018-Q3RestatedAnnual report
「As of the end of the current third quarter accounting period, the number of treasury shares was 11,572,956.」
The Company disclosed 11,572,956 treasury shares as the quarter-end balance, indicating the continuation of a flexible capital policy involving treasury shares. - FY2018-Q2RestatedAnnual report
「Expenditure for the acquisition of treasury shares △ 4」
An outflow of ¥4 million from the acquisition of treasury shares was recorded during the second quarter cumulative period, indicating the continuation of a capital policy involving treasury share acquisitions. - FY2017AdvancedAnnual report
「Net cash provided by financing activities during the current consolidated fiscal year was ¥6.864 billion, compared with net cash used of ¥7.849 billion in the previous consolidated fiscal year. The main factors were proceeds of ¥15.601 billion from long-term borrowings, offset by outflows of ¥3.376 billion for repayment of long-term borrowings, ¥1.201 billion for the acquisition of treasury shares, ¥3.347 billion for dividend payments and ¥1.591 billion for the acquisition of shares in subsidiaries without a change in the scope of consolidation.」
The Company acquired ¥1.201 billion of treasury shares during the fiscal year as part of its flexible capital policy. - FY2017-Q3AdvancedAnnual report
「As of the end of the current third quarter consolidated accounting period, the number of treasury shares was 11,568,149.」
Against a backdrop of continued treasury share acquisitions, the Company disclosed 11,568,149 treasury shares at the end of the current third quarter. The acquisition of treasury shares was also identified as a major factor reducing net assets. - FY2017-Q2AdvancedAnnual report
「Net cash provided by financing activities during the current second quarter cumulative period was ¥179 million, compared with net cash used of ¥5.388 billion in the same period of the previous year. The main factors were proceeds of ¥5.7 billion from long-term borrowings, offset by outflows of ¥1.199 billion for the acquisition of treasury shares and ¥3.346 billion for dividend payments.」
The Company also acquired treasury shares during the current cumulative quarter, disclosing acquisition costs of ¥1.199 billion and 11,567,236 treasury shares at the period-end. - FY2017-Q1AdvancedAnnual report
「The main factors behind the decrease were reductions in notes and accounts receivable and inventories due to lower transaction volume, as well as a decrease in cash and deposits resulting from the acquisition of treasury shares and dividend payments. As of the end of the current first quarter accounting period, the number of treasury shares was 11,526,217.」
The Company reported the acquisition of treasury shares during the quarter as a factor reducing cash, and disclosed 11,526,217 treasury shares at the quarter-end. - FY2016First statedAnnual report
「Under Article 165, paragraph 2 of the Companies Act, the Company’s Articles of Incorporation provide that the Company may acquire its own shares through market transactions or other methods pursuant to a resolution of the Board of Directors. This is intended to enable the flexible execution of capital policies.」
The authority to acquire treasury shares under the Articles of Incorporation is described as a means of implementing flexible capital policies.