Buffalo plans significant share repurchase to boost shareholder returns

Buffalo Co., Ltd. announced a decision to acquire its own common shares through an off-auction own share repurchase transaction (ToSTNeT-3) on September 4, 2025. This move aims to strengthen shareholder returns, improve capital efficiency, and reduce its foreign investor ratio to avoid classification under the Foreign Exchange and Foreign Trade Act, allowing for more flexible future investment and business activities.

The company plans to acquire up to 950,000 shares of its common stock, representing a maximum value of JPY 3,325,000,000. The acquisition will take place on September 5, 2025, at 8:45 AM JST, at a price of JPY 3,500 per share, which was the closing price on September 4, 2025.

Melco Group and Effissimo Capital Management Pte. Ltd., major shareholders, have indicated their intention to sell a portion of their Buffalo common shares. The company’s earlier resolution on August 8, 2025, allowed for the acquisition of up to 1,000,000 shares, or JPY 3,500,000,000, between August 9, 2025, and April 30, 2026. As of September 3, 2025, no shares have been acquired under this prior resolution.