Progrit Announces Share Repurchase Plan

TOKYO, Jul 09 (Pulse News Wire) – Progrit Inc. (9560.T) announced that its board of directors, held on July 09, 2026, resolved to repurchase shares based on Article 165(3) of the Companies Act, which applies provisions similar to those outlined in Article 156.

The move follows founder and executive vice president Yoshihiro Yamagishi's intention to sell his shares along with those owned by his asset management firm, HOHETO Co., Ltd. The repurchase aims to mitigate short-term impacts on share supply and reduce effects on existing shareholders. Progrit plans to execute the buyback through the ToSTNeT-3 system on July 10, 2026, at 8:45 AM. The total number of shares to be purchased is up to 1,250,000 (representing 9.99% of outstanding shares excluding treasury stock).

The aggregate purchase price is capped at ¥937.5 million. Should market conditions prevent the completion of the entire planned repurchase, adjustments will not be made to the target quantity. The results of the transaction will be disclosed immediately following the conclusion of trading on July 10, 2026, at 8:45 AM. The acquired shares will potentially be used for future mergers and acquisitions or as part of the company’s equity compensation program, though specific uses and timelines remain undetermined.