Shin-Etsu chemical finalizes share repurchase adjustment, impacting share count

Shin-Etsu Chemical Co., Ltd. has finalized an ex post facto adjustment for Adjustment Period 4 of its fully committed share repurchase (FCSR), initially announced on May 20, 2025. This adjustment relates to one of five periods for acquiring the company's own shares through the off-auction share repurchase trading system (ToSTNeT-3).

The adjustment process determined an average share price of JPY 4,627.4239. This was calculated as the arithmetic average of VWAP from May 22, 2025, to November 21, 2025, multiplied by 99.80%. If acquired at this average price, the number of shares would have been 17,130,338. However, the actual number of shares acquired was 17,319,100, representing one-fifth of the shares purchased from Nomura Securities Co., Ltd., via ToSTNeT-3 on May 21, 2025.

This discrepancy resulted in an adjustment decrease of 188,700 shares. This was calculated as the difference between the shares acquired at the average price and the actual shares acquired. This adjustment will be settled through delivery to warrant holders upon the exercise of their share warrants.