Mitsuba Corp to Buy Back and Cancel D Shares on July 31
TOKYO, Jul 08 (Pulse News Wire) – Mitsuba Corporation (7280.T) announced that its board of directors, held on July 08, 2026, resolved to repurchase and subsequently cancel part of its D shares based o
TOKYO, Jul 08 (Pulse News Wire) – Mitsuba Corporation (7280.T) announced that its board of directors, held on July 08, 2026, resolved to repurchase and subsequently cancel part of its D shares based on Article 11, Paragraph 6 of the company's articles of incorporation and Sections 168 and 169 of the Companies Act. The repurchase involves 60 D shares at a total cost of ¥3.081 billion.
The shares will be purchased from Japan Policy Investment Bank and Yokohama Bank on July 31, 2026. Following the purchase, all acquired D shares will be canceled according to Section 178 of the Companies Act. This move aligns with the company’s previous announcement on May 15, 2026, which outlined plans for phased partial repayments of D shares issued in June 2024.
As the company progresses through its medium-term management plan, it aims to enhance capital efficiency and strengthen financial discipline. By reducing the burden of preferred dividends, Mitsuba expects to further improve profitability and reinforce its financial structure moving forward. The impact of this share buyback and cancellation on the company’s performance is expected to be minor.