Hoshizaki pairs JAC alliance with a buyback cap to offset dilution
The company will place 2,329,100 treasury shares with Japan Activation Capital-serviced funds and use the ¥12,091,003,600 net proceeds for a market buyback of up to the same size. The authorization runs from July 9, 2026 to March 31, 2027 and is expected to start only after Hoshizaki's current buyback program ends, so the anti-dilution logic is clear even if the full offset is not guaranteed.