Tosei Corporation ends share repurchase program with no shares acquired

Tosei Corporation (TSE:8923) concluded its authorized share repurchase program on November 30, 2025, without repurchasing any common shares. The company had initially resolved on April 7, 2025, to repurchase up to 700,000 shares, representing 1.4% of issued shares (excluding treasury shares), with a maximum total value of JPY 1,000 million. The repurchase period spanned from April 11, 2025, to November 30, 2025.

The decision not to proceed with repurchases stemmed from the company's capital allocation strategy, which deemed repurchasing shares at high valuation levels as not conducive to enhancing shareholder value. Despite the initial resolution to repurchase shares following a sharp decline in stock price, Tosei's stock price remained above the anticipated purchase price throughout the program period, leading to no shares being acquired.

Tosei Corporation stated it will continue to balance growth investments with a focus on capital efficiency and financial soundness, aiming to maximize long-term shareholder value through flexible management decisions.