Toyota Motor Corporation (7203) said on Nov. 5 it raised the ceiling on its share buyback to ¥1.3 trillion and 610 million shares from ¥1 trillion and 500 million, adding a self-tender offer to market purchases, as first-half net profit attributable to owners rose 26.1% to ¥2.24 trillion.
| Item | Before (Aug. 4) | After (Nov. 5) |
|---|---|---|
| Total cost cap | ¥1 trillion | ¥1.3 trillion |
| Share cap | 500 million (4.22%) | 610 million (5.18%) |
| Method | Market purchases | Market purchases and self-tender offer |
Toyota said non-life insurers holding its shares as cross-shareholdings have adopted policies to reduce them, and that sales in the market could temporarily worsen supply and demand for the stock. A tender offer gives other shareholders time to decide whether to participate, and the price will be based on the market price with a discount, the company said. Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance, Tokio Marine & Nichido Fire Insurance and Sompo Japan Insurance were named as expected tendering shareholders, with portions of their holdings listed at 60,729,315, 3,308,326, 38,298,600 and 6,414,500 shares, respectively. Toyota bought back 63,766,500 shares between Aug. 5 and Sept. 30 under the August program. The board also amended terms for cancelling treasury shares.
For the April-September half, operating revenue rose 9.5% to ¥26.96 trillion and operating profit rose 9.2% to ¥2.19 trillion, helped by a ¥685.0 billion currency effect, partly offset by a negative ¥340.0 billion from cost reduction efforts. Consolidated vehicle sales fell 0.5% to 4.758 million units. Basic earnings per share were ¥185.97. Hino Motors and its subsidiaries, 70 companies in all, left the consolidation scope.
Toyota revised its full-year forecast to operating revenue of ¥53.5 trillion, operating profit of ¥3.9 trillion and net profit attributable to owners of ¥3.57 trillion, down 7.2%. It kept its annual dividend forecast at ¥100 per share, including an interim ¥50.
Next steps: the semi-annual report is due Nov. 12 and the dividend payment begins Nov. 26. The buyback period runs through Aug. 4, 2027.
| Seki Co., Ltd. | |
| FY net profit forecast | ¥370 million (prev. ¥135 million) |
| Seed Co., Ltd. | |
| Scheduled delisting | Dec. 21, 2026 |
| Rengo Co., Ltd. | |
| H1 net profit | ¥20.85 billion (+89.0%) |
| Sankei Real Estate Investment Corporation | |
| Current tender offer price | ¥125,000 per unit |
| Toyota Motor Corporation | |
| Buyback cost cap | ¥1.3 trillion |
| EDION Corporation | |
| Revised FY net profit | ¥22.5 billion (from ¥15.7 billion) |
| Hiraki Co., Ltd. | |
| FY net profit (loss) forecast | ¥160 million loss (prev. ¥100 million profit) |
| Riso Kagaku Corporation | |
| H1 net profit attributable to owners of parent | ¥2,513 million (up 40.4%) |
| M&A / TOB | 6 |
| Guidance | 59 |
| Buybacks | 25 |
| Dividends | 9 |
| Capital | 3 |
| Earnings | 159 |
| People | 3 |
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