Nippon Seiki confirmed on September 18 that its share buyback is done. The company bought 3,610,000 common shares, 6.27% of its stock outstanding excluding treasury holdings, through the Tokyo Stock Exchange's off-auction ToSTNeT-3 facility for a total of ¥9.98bn. That is effectively the ceiling its board set a day earlier, when it authorized buying up to 3,610,000 shares for up to ¥9.979bn.
On the other side of that trade, Alps Alpine confirmed the same day that it sold its entire planned position, 3,000,000 shares of Nippon Seiki common stock, into Nippon Seiki's own buyback. The sale went through in full, matching the plan Alps Alpine disclosed a day earlier (see Tokyo Brief's earlier coverage of the planned sale).
| Feature | Nippon Seiki (buyer) | Alps Alpine (seller) |
|---|---|---|
| Shares involved | 3,610,000 shares repurchased (6.27% of shares outstanding, excluding treasury) | 3,000,000 shares sold (its full planned block) |
| Value | ¥9.98bn total purchase price | Approximately ¥6.0bn special gain planned |
| Date completed | September 18, 2026 | September 18, 2026 |
| Method | ToSTNeT-3 off-auction market purchase | Sold into Nippon Seiki's ToSTNeT-3 buyback |
What's new since then is the accounting. Alps Alpine will record an extraordinary gain of approximately ¥6.0bn on the sale of investment securities in its consolidated and non-consolidated results for the second quarter of the fiscal year ending March 2027. That figure is unchanged from the estimate the company gave a day earlier, but it comes with two separate qualifications: the final booked amount may shift once transaction costs are settled, and the effect on Alps Alpine's full-year consolidated forecast, alongside other factors, is still under review. Alps Alpine said it will disclose any resulting revision to that forecast promptly.
One gap the disclosures leave open: Nippon Seiki's total repurchase, 3,610,000 shares, is larger than the 3,000,000-share block Alps Alpine sold. Neither filing identifies who supplied the remaining shares, and nothing in either notice describes the nature of the relationship between the two companies beyond this transaction.