Nifco Inc. bought back ¥39.96bn of its own stock in a single trade on September 1, the first day of a buyback programme its board approved a day earlier. The Kanagawa-based manufacturer, listed on the Tokyo Stock Exchange's Prime market under code 7988, used an off-auction ToSTNeT-3 trade to acquire 7,540,000 common shares at a fixed price of ¥5,300 each.
That single order used nearly the entire capacity the board set aside on August 31. The programme caps purchases at 8.3 million shares, equal to 8.88% of shares outstanding excluding treasury stock, and at ¥40bn in cash, to be spent between September 1 and September 18. Against those ceilings, the September 1 trade alone accounted for 7.54 million shares and ¥39.96bn, leaving only a thin margin of authorized headroom for the market purchases that follow.
Nifco said it now plans to fill whatever capacity remains under the caps, after deducting the ToSTNeT-3 purchase, through ordinary market buying on the Tokyo Stock Exchange carried out on a discretionary-mandate basis. The company attached the standard caveat that governs open-market tranches: orders may be partially or wholly unexecuted depending on market conditions.
The disclosure lists Hiroshi Hamada, general manager of Nifco's finance and accounting department, as the responsible officer, alongside Masaharu Shibao as president and representative director. The programme runs through September 18.