TOYO Denki Seizo K.K.(Toyo Electric Mfg.co.,ltd.) Sets Share Repurchase Terms

TOKYO, Jul 22 (Pulse News Wire) – Toyo Denki Seizo K.k.(toyo Electric Mfg.co.,ltd.) (6505.T) decided on the conditions for repurchasing shares through a private placement to East Japan Railway Company. The board meeting held on July 22, 2026 approved the share repurchase, which will take place on July 15, 2026.

Under the agreement, Toyo Electric will sell 578,000 ordinary shares at ¥2,419 per share, raising a total of ¥1.398 billion. The funds raised will be used for research and development investments totaling 1,391 from August 2026 to May 2030. Other uses include paying issuance fees amounting to ¥6.6 million and net proceeds of ¥1.392 billion.

The repurchase price was determined based on the higher closing price of Toyo Electric's stock on either July 14, 2026, or the day prior to the condition determination date, ensuring fairness and alignment with market prices. Additionally, the repurchase is contingent upon the effectiveness of securities filings under the Financial Instruments and Exchange Act. All four audit committee members, including three external auditors, confirmed the appropriateness of the repurchase price, deeming it neither particularly favorable nor unfavorable to the assignee.