Share buybacks using surplus funds exceeding three months’ worth of funds
First written in FY2016. 18 of 25 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2026.
- FY2026ReframedAnnual report
「4. Consider share buybacks when PBR is below 3x 5. Treasury shares may not exceed 5% of total issued shares」
The Company has clarified its policy by shifting from conducting share buybacks as appropriate based on surplus cash to a conditional policy under which buybacks are considered when PBR is below 3x. - 2026-05-12ReframedResults briefing materials
「Consider share repurchases when the PBR falls below 3x」
The Company explicitly stated that it would consider share repurchases subject to a PBR condition. - FY2024AdvancedAnnual report
「Treasury shares acquired during the fiscal year 1,213,800 3,499,880,992」
Under the resolution of November 2023, the Company conducted share buybacks of 1,213,800 shares for approximately ¥3.5 billion during the fiscal year. It also cancelled 4,500,000 shares in line with the post-buyback holding limit. - FY2024-Q3AdvancedAnnual report
「As a result of the market purchases described above, the Company acquired 1,065,000 common shares for an acquisition cost of ¥3,046 million between 10 November 2023 and 31 January 2024, on a contract-date basis.」
Under the share buyback resolution of 9 November 2023, the Company had acquired 1,065,000 shares for an acquisition cost of ¥3.046 billion through market purchases by 31 January 2024. The acquisition period had not ended, and the buyback was ongoing. - FY2024-Q2AdvancedAnnual report
「As there were no particular concerns regarding the adequacy of equity or cash balances, the Company will conduct share buybacks during the fiscal year in accordance with its basic profit allocation policy. 2. Details of the acquisition (1) Class of shares to be acquired: the Company's common shares (2) Total number of shares that could be acquired: 1,400,000 shares (maximum) (1.79% of issued shares excluding treasury shares) (3) Total acquisition cost: ¥3,500 million (maximum) (4) Acquisition period: 10 November 2023 to 29 February 2024, on a contract-date basis (5) Acquisition method: market purchases on the Tokyo Stock Exchange」
As there were no particular concerns regarding equity or cash balances, the Company resolved to conduct share buybacks of up to 1.4 million shares and ¥3.5 billion, specifying the acquisition period and market purchases as the method. - FY2023AdvancedAnnual report
「Status of the resolution by the Board of Directors (27 October 2022) (acquisition period: 28 October 2022 to 28 February 2023): 1,900,000 4,200,000,000. Treasury shares acquired during the fiscal year: 1,703,800 4,199,905,882.」
Under the share buyback resolution of October 2022, the Company acquired 1,703,800 shares for approximately ¥4.2 billion during the fiscal year. It also cancelled 1,800,000 shares and proceeded with the related measures in line with the post-buyback treasury share holding limit. - FY2023-Q3AdvancedAnnual report
「As a result of the market purchases described above, the Company acquired 1,612,300 common shares for an acquisition cost of ¥3,978 million between 28 October 2022 and 31 January 2023, on a contract-date basis.」
Under the share buyback resolution of 27 October 2022, the Company had acquired 1,612,300 shares for an acquisition cost of ¥3.978 billion through market purchases by 31 January 2023. The acquisition period had not ended, and the buyback was ongoing. - FY2023-Q2AdvancedAnnual report
「As there were no particular concerns regarding the adequacy of equity or cash balances, the Company will conduct share buybacks during the fiscal year in accordance with its basic profit allocation policy. 2. Details of the acquisition (1) Class of shares to be acquired: the Company's common shares (2) Total number of shares that could be acquired: 1,900,000 shares (maximum) (2.37% of issued shares excluding treasury shares) (3) Total acquisition cost: ¥4,200 million (maximum) (4) Acquisition period: 28 October 2022 to 28 February 2023, on a contract-date basis (5) Acquisition method: market purchases on the Tokyo Stock Exchange」
As there were no particular concerns regarding equity or cash balances, the Company resolved to conduct share buybacks of up to 1,900,000 shares and ¥4.2 billion, specifying the acquisition period and market purchases as the implementation method. - FY2022AchievedAnnual report
「As a result of the market purchases described above, the Company acquired 500,400 common shares for an acquisition cost of ¥3,399 million by 11 January 2022, on a contract-date basis, and completed the share buyback.」
Under the share buyback resolution of October 2021, the Company acquired 500,400 shares for an acquisition cost of ¥3,399 million and completed the buyback. - FY2022-Q3AchievedAnnual report
「As a result of the market purchases described above, the Company acquired 500,400 common shares for an acquisition cost of ¥3,399 million by 11 January 2022, on a contract-date basis, and completed the share buyback.」
Under the share buyback resolution of October 2021, the Company acquired 500,400 shares for an acquisition cost of ¥3,399 million through market purchases and completed the buyback. - FY2022-Q2AdvancedAnnual report
「As there were no particular concerns regarding the adequacy of equity or cash balances, the Company will conduct share buybacks during the fiscal year in accordance with its basic profit allocation policy. 2. Details of the acquisition (1) Class of shares to be acquired: the Company's common shares (2) Total number of shares that could be acquired: 600,000 shares (maximum) (2.21% of issued shares excluding treasury shares) (3) Total acquisition cost: ¥3,400 million (maximum) (4) Acquisition period: 29 October 2021 to 28 February 2022, on a contract-date basis (5) Acquisition method: market purchases on the Tokyo Stock Exchange」
As there were no particular concerns regarding equity or cash balances, the Company resolved to conduct share buybacks of up to 600,000 shares and ¥3.4 billion, specifying the acquisition period and market purchases as the implementation method. - FY2021AchievedAnnual report
「Treasury shares acquired during the fiscal year 390,200 1,999,694,986」
Under the resolution of October 2020, the Company conducted share buybacks of 390,200 shares for approximately ¥2.0 billion and subsequently cancelled 400,000 shares. - FY2021-Q3AchievedAnnual report
「As a result of the market purchases described above, the Company acquired 390,200 common shares for an acquisition cost of ¥1,999 million by 22 January 2021, on a contract-date basis, and completed the share buyback.」
Under the share buyback resolution of 29 October 2020, the Company acquired 390,200 shares for an acquisition cost of ¥1,999 million and completed the buyback. - FY2021-Q2AdvancedAnnual report
「As there were no particular concerns regarding the adequacy of equity or cash balances, the Company will conduct share buybacks during the fiscal year in accordance with its basic profit allocation policy. 2. Details of the acquisition (1) Class of shares to be acquired: the Company's common shares (2) Total number of shares that could be acquired: 440,000 shares (maximum) (1.59% of issued shares excluding treasury shares) (3) Total acquisition cost: ¥2,000 million (maximum) (4) Acquisition period: 30 October 2020 to 29 January 2021, on a contract-date basis (5) Acquisition method: market purchases on the Tokyo Stock Exchange」
As there were no particular concerns regarding equity or cash balances, the Company resolved to conduct share buybacks of up to 440,000 shares and ¥2.0 billion, specifying the acquisition period and market purchases as the implementation method. - FY2020AdvancedAnnual report
「Treasury shares acquired during the fiscal year 303,400 1,699,853,000」
Under the resolution of 25 June 2019, the Company conducted share buybacks of 303,400 shares for approximately ¥1.7 billion and subsequently cancelled 300,000 shares. - FY2020-Q3AdvancedAnnual report
「This was mainly due to the offsetting effects of dividend payments and share buybacks on the quarterly net profit attributable to owners of the parent generated from the results of operations for the fiscal year.」
The Company disclosed that the effect of share buybacks was reflected in the reduction in net assets at the end of the third quarter of the fiscal year. - FY2020-Q2AdvancedAnnual report
「The breakdown of cash used was ¥1.707 billion in payments for share buybacks and ¥3.222 billion in dividend payments.」
The Company spent ¥1.707 billion on share buybacks during the six-month period ended 30 September, continuing to conduct share buybacks. - FY2020-Q1AdvancedAnnual report
「As a result of the market purchases described above, the Company acquired 303,400 common shares for an acquisition cost of ¥1,699 million by 5 August 2019, on a contract-date basis, and completed the share buyback.」
Under the profit allocation plan's total payout ratio of approximately 80%, the Company acquired 303,400 shares for an acquisition cost of ¥1,699 million and completed the buyback. - FY2019AdvancedAnnual report
「Share buybacks will be conducted as appropriate, taking the total payout ratio and dividend payout ratio into consideration. Treasury shares acquired will be held on an ongoing basis up to a maximum of 5% of total issued shares. Any treasury shares acquired and held in excess of this limit will be cancelled by the end of the fiscal year.」
During the fiscal year, the Company conducted share buybacks of 280,300 shares for approximately ¥1.5 billion, setting a 5% post-buyback holding limit and specifying a policy of cancelling any excess. - FY2019-Q2AdvancedAnnual report
「Cash used in financing activities increased by ¥2.013 billion year on year to ¥4.390 billion. The main components were ¥1.503 billion in payments for share buybacks and ¥2.887 billion in dividend payments.」
The Company spent ¥1.503 billion on share buybacks during the six-month period ended 30 September, implementing its policy of allocating surplus cash to shareholder returns. - FY2019-Q1AdvancedAnnual report
「In line with the medium-term management plan's profit allocation policy of a total payout ratio of approximately 80%, comprising a 60% dividend payout ratio and 20% share buybacks, the Company will conduct share buybacks during the fiscal year.」
Based on the profit allocation plan's total payout ratio of approximately 80%, the Company resolved to conduct share buybacks of up to 330,000 shares and ¥1.5 billion, and had acquired 227,000 shares for ¥1.209 billion by 31 July 2018. - FY2018AdvancedAnnual report
「Treasury shares acquired during the fiscal year 256,700 1,499,528,988」
Under the share buyback resolution of November 2017, the Company acquired 256,700 shares for approximately ¥1.5 billion during the fiscal year. The unexercised portion of the 300,000-share resolution limit was 43,300 shares. - FY2018-Q2AdvancedAnnual report
「(2) Total number of shares that could be acquired: 300,000 shares (maximum) (1.05% of issued shares excluding treasury shares) (3) Total acquisition cost: ¥1.5 billion (maximum) (4) Acquisition period: 8 November 2017 to 31 January 2018 (5) Acquisition method: market purchases on the Tokyo Stock Exchange」
Based on the medium-term management plan's total payout ratio of approximately 80%, the Company specified share buybacks during the fiscal year, capped at 300,000 shares and ¥1.5 billion, including the acquisition period and market purchases as the implementation method. - FY2017-Q2AdvancedAnnual report
「In accordance with the basic profit allocation policy, because consolidated cash at the end of the previous fiscal year exceeded three months of monthly sales and no major funding needs were anticipated, the Company conducted share buybacks. Total number of shares that could be acquired: 700,000 shares (maximum); acquisition period: 9 November 2016 to 24 March 2017; acquisition method: market purchases on the Tokyo Stock Exchange.」
Based on a cash position exceeding three months of monthly sales, the Company resolved to conduct share buybacks of up to 700,000 shares and ¥2.1 billion, specifying the acquisition period and market purchases as the implementation method. - FY2016First statedAnnual report
「The Group's cash management is premised on maintaining internally generated funds equivalent to three months of monthly sales as necessary for business continuity. Accordingly, share buybacks will be conducted, taking the total payout ratio into consideration, when consolidated cash at the end of the previous fiscal year exceeds three months of monthly sales and no major funding needs are anticipated, using funds exceeding that three-month level as the source of the purchases.」
A mechanism for allocating surplus cash to share buybacks after securing liquidity equivalent to three months of monthly sales for business continuity.