i-mobile is launching a buyback that is as much about who owns the company as how much cash it returns. The company has authorised purchases of up to 1.2 million shares, or 2.14% of shares outstanding excluding treasury stock, for up to ¥700 million between June 12 and June 30. Management says the aims are fuller shareholder returns, better financial and capital efficiency, continued compliance with Tokyo Stock Exchange Prime listing standards, and flexibility for future capital policy. But the more revealing detail is that chairman Toshihiko Tanaka and president Tetsuya Noguchi have agreed to sell part of their holdings, which the company says should reduce reliance on specific individual shareholders and help governance and liquidity.
| Item | Overall programme | First ToSTNeT-3 order |
|---|---|---|
| Shares | Up to 1,200,000 shares | Up to 400,000 shares |
| Value cap | Up to ¥700,000,000 | Up to ¥196,800,000 |
| Timing | June 12 to June 30, 2026 | 8:45 a.m. on June 12, 2026 |
| Method | ToSTNeT-3 and market purchases | ToSTNeT-3 order at the June 11 closing price |
| Price | Not specified for later market purchases | ¥492 per share |
| Result disclosure | Not specified in the overall plan notice | After the June 12 trade session ends |
The first step is tightly scripted. i-mobile will place a ToSTNeT-3 buy order at 8:45 a.m. on June 12 at ¥492, the June 11 closing price, for up to 400,000 shares and ¥196.8 million. That order is valid only for that session. The company says it will disclose the result after the trade, and if capacity remains it plans to continue repurchasing shares in the market through June 30 within the overall cap.
The ownership angle matters because i-mobile spelled out the two large individual positions behind the plan. As of January 31, Tanaka held 3,784,300 shares, or 6.75% of shares outstanding excluding treasury stock, and Noguchi held 3,624,300 shares, or 6.46%. That makes this less like a standard cash return and more like a tidy bit of capital-structure gardening: the company is using a buyback to support returns while also trying to broaden trading liquidity and reduce concentration among named insiders, objectives it links directly to governance and Prime-market maintenance.
The balance sheet gives it room to try. In the quarterly results released the same day, i-mobile reported ¥22.636 billion of cash and deposits and ¥999 million of securities as of April 30. The move also fits its stated shareholder-return policy of stable dividends guided by a 50% payout ratio, plus flexible buybacks over the four years through July 2027.
What remains open is what happens after the buying. The company has not decided whether any repurchased shares will be cancelled. And because the June 12 ToSTNeT-3 order can be partially filled, or not filled at all, the size of any follow-on market purchases will only become clear after that first trading window closes.