Cover has ended the buyback it approved on May 14, saying the program is complete after repurchasing a cumulative 1,879,700 common shares for ¥2,999,861,600 as of June 5.
The timing is the point. The board had authorized market purchases of up to 3,000,000 shares, equal to 4.6% of outstanding shares excluding treasury stock, and up to ¥3,000,000,000 through July 8. Instead, the company says the buyback is already finished after the latest June 1 to June 5 tranche, when it bought 322,500 shares for ¥519,534,300 on the Tokyo Stock Exchange.
| Item | June 1 to June 5 purchases | Cumulative under program | Board authorization |
|---|---|---|---|
| Shares repurchased | 322,500 | 1,879,700 | Up to 3,000,000 |
| Cash outlay | ¥519,534,300 | ¥2,999,861,600 | Up to ¥3,000,000,000 |
| Purchase window | June 1 to June 5, 2026 | As of June 5, 2026 | May 15 to July 8, 2026 |
| Method | Market purchases on the Tokyo Stock Exchange | Market purchases on the Tokyo Stock Exchange | Market purchases on the Tokyo Stock Exchange |
For readers tracking capital allocation, this was not a token authorization left hanging in the air. Cover used almost the full cash budget and then closed the program well before the scheduled end date, even though the share-count ceiling was higher than the final tally. The notice does not say whether the repurchased shares will be cancelled or whether another buyback authorization will follow.