Nippon Steel's subsidiary cancels treasury stock retirement plan

Nippon Steel Corporation [TSE:5401] announced that its consolidated subsidiary, Osaka Steel Co., Ltd., has cancelled its planned cancellation of treasury stock. The initial plan, announced on January 31, 2025, involved retiring 12,360,699 shares of company stock on April 15, 2025. The decision to cancel stems from a reassessment of the timing given the current shareholder register and related factors, including the fund structures which has affected trading conditions for the stock. While a buyback plan had been enacted to improve stock valuation and liquidity, these external factors have caused Osaka Steel to re-evaluate the plan. The company will announce the future of the cancellation at a later date.