ITOCHU Corporation told the Kanto Local Finance Bureau on September 11 that its board-approved ¥300bn share buyback had repurchased no shares by the end of August. That is not a stalled programme; the way ITOCHU structured the buying means the numbers were always going to read zero for August.
The board authorized the programme on August 3, 2026: up to 190,000,000 shares for a total of ¥300bn, with an acquisition window running through January 29, 2027. Rather than start on the open market immediately, ITOCHU launched a tender offer for its own common stock at ¥1,813 per share, seeking up to 82,735,700 shares, running from August 4 to September 1, 2026, 20 business days. The filing notes that the acquisition period and acquired treasury shares in this section are recorded on a contract-date basis. Because the tender offer does not close until September 1, and settlement of the tendered shares does not begin until September 28, no shares had been contracted for acquisition within the August reporting window, leaving reported progress at 0.00% for the month and cumulatively.
| Metric | Value |
|---|---|
| Board authorization (Aug 3, 2026) | Up to 190,000,000 shares / ¥300bn, through January 29, 2027 |
| Tender offer price | ¥1,813 per share |
| Tender offer size | Up to 82,735,700 shares |
| Tender offer period | August 4 to September 1, 2026 (20 business days) |
| Tender offer settlement start | September 28, 2026 |
| August 2026 buyback progress | 0.00% (zero shares acquired, contract-date basis) |
| Planned market purchases (unfilled balance) | TSE Prime market, September 2, 2026 to January 29, 2027 |
| Treasury shares held (Aug 31, 2026) | 925,011,442 shares (delivery-date basis) |
| Shares issued (Aug 31, 2026) | 7,924,447,520 shares |
Whatever the tender offer does not fill, ITOCHU plans to buy on the open market. The company said the unfilled portion of the ¥300bn authorization is slated for ordinary purchases on the Tokyo Stock Exchange Prime market from September 2, 2026 through January 29, 2027, the remainder of the original acquisition window.
Before any of the new shares are booked, ITOCHU already held 925,011,442 treasury shares against 7,924,447,520 shares issued as of August 31, 2026, a figure the filing states on a delivery-date basis, a different accounting point from the contract-date basis used for the acquisition-status figures above. The filing does not say how many of the tendered 82,735,700 shares were ultimately accepted, since that settlement falls in September, outside the period this report covers. The next monthly filing should show whether the tender offer filled close to its planned size and how far the open-market purchases have progressed toward the ¥300bn ceiling.