S.T. Corporation (4951) Approves Share Buyback of Up to ¥2.6 billion (8.06% of Shares Outstanding) | TDnet Disclosure

S.T. Corporation (4951) disclosed on 2026-08-20 through TDnet that its board had approved a share buyback of up to ¥2.601 billion, or 1,700,000 shares, equal to 8.06% of shares outstanding excluding treasury stock. The purchase will run through ToSTNeT-3, the Tokyo Stock Exchange's off-auction own-share repurchase facility, on a single day: August 21, 2026.

A frame of 8.06% is large enough to lift earnings per share by roughly 8% if fully used, and it removes the same proportion of shares from circulation. Dividing the ¥2.601 billion cap by the 1.7 million share cap gives an implied price of ¥1,530, almost identical to the ¥1,524 close on the disclosure date.

ToSTNeT-3 executes before the opening auction of the next trading day at the previous day's closing price, so the entire purchase settles in one session rather than accumulating gradually in the market. Japanese companies often use it to absorb a block sale from a large shareholder. The disclosure says nothing about cancelling the repurchased shares. A buyback frame is an authorisation rather than a commitment, and the actual amount purchased can fall short of it.

*Speculation: Buying 8% of the company in a single session points to one holder selling a large block that the company is absorbing. If the frame is used in full, the free float shrinks by about 8%.