Acquiring Own Company Shares through the TSE Market
When listed companies acquire their own company shares through the TSE market, they have to comply with Cabinet Office Ordinance on Restrictions on Securities Transactions, etc.
TSE offers ToSTNeT-2 & ToSTNeT-3 in addition to auction market to acquire the shares in accordance with the ordinance.
Please refer to the documents below for the details of the procedure and sample schedules for listed companies.
|Q&A on Own Share Repurchase on the TSE Market
|Sample Schedules of Acquiring Own Shares with Prior Announcement
Guidelines Concerning the Acquisition of Own Shares
Since repurchase of own shares (also known as share buybacks) involve a listed company buying its own shares from the market, persons related to the listed company may be concerned at whether such buybacks fall under market manipulation or their acts violate insider trading rules.
In order for companies intending to conduct share buybacks to deepen their understanding of restrictions relating to market manipulation and to facilitate appropriate share buybacks, Japan Exchange Regulation compiled and published the relevant guidelines.
For Guidelines Concerning Own Share Repurchase please click below.