Itochu completes first phase of share repurchase program

Itochu Corporation (TSE:8001) has announced the completion of the first phase of its planned share repurchase program, as authorized by the board of directors on May 2, 2025. Between May 7 and May 31, 2025, the company acquired 2,633,600 of its own common shares, at a total cost of JPY 19,764,532,100. This buyback is part of a larger initiative, approved earlier in May, to repurchase up to 28,000,000 shares, representing approximately 2.0% of the total issued shares excluding treasury stock, for a maximum aggregate purchase price of JPY 150,000,000,000. The overall repurchase program is slated to continue until December 31, 2025. The repurchases are being conducted in accordance with Article 165, paragraph 2 of the Companies Act of Japan and the company’s Articles of Incorporation. The move underscores Itochu's commitment to enhancing shareholder value through flexible capital management, allowing for the efficient return of profits to its investors.