ALPS ALPINE will sell every Nippon Seiki share it owns, all 3,000,000 of them, into Nippon Seiki's own off-exchange share buyback scheduled for September 18. Nippon Seiki's board approved the repurchase on September 17, offering to buy up to 3,610,000 shares, 6.27% of stock outstanding excluding treasury shares, at ¥2,764 apiece, the same day's closing price, for as much as ¥9.98bn. ALPS ALPINE's full stake fits comfortably inside that ceiling.
| Detail | Figure |
|---|---|
| Seller | ALPS ALPINE (entire Nippon Seiki stake) |
| Shares sold | 3,000,000 shares |
| Buyback ceiling | Up to 3,610,000 shares (6.27% of shares outstanding, ex-treasury) |
| Buyback price | ¥2,764 per share (September 17 close) |
| Maximum buyback value | ¥9.98bn |
| Estimated gain to ALPS ALPINE | About ¥5.0bn special profit |
| Scheduled trade | September 18, 2026 ToSTNeT-3 session |
If the trade settles as planned, ALPS ALPINE expects to book an investment securities sale gain of about ¥5.0bn as special profit in the six months to September, within the fiscal year ending March 2027. The company frames the sale as part of a push to shed policy-held cross-shareholdings and lift capital efficiency, work that follows a January 27 decision to dissolve the capital side of its alliance with Nippon Seiki, the maker of automotive instrument clusters and head-up displays, while shifting to a business-only alliance.
Neither company is promising the numbers will hold. Nippon Seiki's filing notes the buy order is valid only for the September 18 ToSTNeT-3 session and may go partly or wholly unfilled depending on market conditions. ALPS ALPINE's ¥5.0bn estimate is built on Nippon Seiki's September 17 closing price and could shift if fewer shares trade or costs differ from assumptions. Nippon Seiki plans to publish the buyback's actual results shortly after the session closes on September 18, and ALPS ALPINE says it is still reviewing what effect, if any, the gain has on its full-year guidance for the year ending March 2027.