Nippon Flour Mills announces share buyback alongside secondary offering

Nippon Flour Mills (Nippon Corporation) announced a resolution to acquire up to 2,200,000 of its common shares, representing 2.61% of total outstanding shares, for a maximum of JPY 4,000 million. This buyback, scheduled from November 25, 2025, to March 31, 2026, aims to improve shareholder returns and capital efficiency, while also counteracting the effect of a secondary offering.

The company also announced a secondary offering of 4,903,200 shares of common stock, with a potential over-allotment of up to 735,400 additional shares. Major sellers include Yakult Honsha Co., Ltd. and Mitsui Sumitomo Insurance Company, Limited. The selling price will be determined between October 21-24, 2025, taking into account market demand.

Separately, Nippon Flour Mills reported consolidated financial results for the first quarter of FY2026, with net sales increasing by 2.2% to JPY 104,219 million. Operating income grew by 8.0% to JPY 5,544 million, and ordinary income rose by 3.0% to JPY 6,737 million. However, profit attributable to owners of parent decreased by 50.4% to JPY 4,678 million due to extraordinary gains from land sales in the previous year. The company confirmed its consolidated quarterly financial statements had been reviewed by an independent auditor.