TEL: Sets ¥150bn buyback cap for up to 25m shares

TEL's board approved a framework for acquiring treasury shares, with purchases planned through the Tokyo Stock Exchange.

• Method: Market purchases under a discretionary trading agreement.
• Conditions: TEL may not acquire some or all of the authorized amount depending on market conditions.

The resolution sets a maximum amount and does not guarantee that TEL will buy shares up to the cap. The actual volume will be determined in light of market conditions and other factors.

TEL said it considered investment for medium- to long-term earnings growth alongside its current cash position, in line with its capital policy. The company set the framework in advance to allow it to acquire treasury shares flexibly.

• Share count basis: The share figures assume the five-for-one split of common shares effective Oct. 1, 2026, had been carried out as of Sept. 30, 2026.
• Trust-held shares: Shares held by the Board Incentive Plan trust and the Employee Stock Ownership Plan trust are excluded from treasury shares.

A buyback is one form of shareholder return, but setting an authorization does not determine whether purchases will be made or how shares acquired will be treated afterward. The disclosure puts the focus on how TEL will balance growth investment with its capital policy through any purchases.