Toho Gas announces share buyback, unveils new mid-term plan

Toho Gas (TSE:9533) announced a share buyback program of up to 5 million shares, representing 5.1% of outstanding shares, for a maximum of ¥15 billion ($108 million USD at an exchange rate of 139 JPY/USD). The buyback period is from April 1 to September 30, 2025, and aims to increase shareholder value and enable more flexible capital management. This announcement coincided with the release of the company's mid-term management plan for fiscal years 2025-2027, which targets a consolidated recurring profit of ¥30 billion ($216 million USD) by FY2027, a 20% increase from the projected FY2024 profit. The plan emphasizes a shift towards strategic growth areas like electricity and overseas energy projects, while maintaining stable cash flow from core gas operations. Toho Gas also plans to complete the sale of roughly one-third of its policy-held shares by the end of FY2027 and aims to maintain a progressive dividend policy.