Toray announces new share buyback and cancellation program

Toray Industries, Inc. announced a new share buyback program of up to JPY 50 bn for 63 million shares (4.20% of outstanding shares excluding treasury shares), to be conducted from November 17, 2025, to May 31, 2026. This follows the completion of a previous JPY 100 bn buyback by October 2025, which repurchased 103 million shares. Concurrently, Toray will cancel 127 million treasury shares (7.78% of outstanding shares before cancellation) on November 28, 2025. These actions align with the company's 2024 policy to reduce cross-shareholdings by 50% from FY2024 to FY2026, using all proceeds for share repurchases to accelerate capital efficiency improvements.

For the six months ended September 30, 2025, Toray reported consolidated revenue of JPY 1,234.3 bn and core operating income of JPY 67.9 bn. The company anticipates full-year consolidated revenue of JPY 2,630.0 bn and core operating income of JPY 150.0 bn for the fiscal year ending March 31, 2026. The new share buyback program is part of a broader structural reform effort aimed at improving profitability and shareholder returns. Initiatives are expected to yield approximately JPY 7 bn in core operating income improvement in FY2025.