Bull-Dog Sauce Co., Ltd., the Tokyo Stock Exchange-listed maker of tonkatsu and other bottled sauces, disclosed on July 27, 2026 that it bought back 372,800 of its own common shares in a single off-auction trade executed through the exchange's ToSTNeT-3 system. The purchase covered 2.9% of shares outstanding, excluding treasury stock, and cost the company ¥682.6mn. The company first announced its intention to make the purchase on July 24, 2026, then executed the trade three days later.
| Metric | Value |
|---|---|
| Shares acquired | 372,800 shares (2.9% of shares outstanding, ex-treasury) |
| Total acquisition price | ¥682.6mn |
| Acquisition date and method | July 27, 2026, via TSE ToSTNeT-3 off-auction trading |
| Board-authorized maximum | 660,000 shares (5.2% of shares outstanding) or ¥1.2bn |
| Authorized buyback window | May 18, 2026 to March 19, 2027 (planned) |
The trade draws on a repurchase authorization the board approved across two meetings, on April 24 and July 24, 2026, allowing Bull-Dog Sauce to buy back as many as 660,000 shares, or 5.2% of shares outstanding, for a combined price of up to ¥1.2bn between May 18, 2026 and March 19, 2027. One morning's trading activity used up more than half of the price ceiling the board had set for the entire ten-month program.
The repurchase was carried out under Article 459, Paragraph 1 of Japan's Companies Act, pursuant to a provision in Bull-Dog Sauce's articles of incorporation. ToSTNeT-3 is the Tokyo Stock Exchange's off-auction trading system, and the disclosure names it as the method used for the July 27 purchase.
The filing does not explain why Bull-Dog Sauce concentrated more than half of its authorized spending into a single session, nor does it state how much of the ¥1.2bn ceiling remains for the rest of the buyback window. It also does not say whether the repurchased shares will later be retired or simply held as treasury stock.