Nintendo Completes ToSTNeT-3 Buyback, Cancels 11.43 Million Shares Worth ¥99.92 Billion

Nintendo Co., Ltd. completed an off-auction share repurchase via the Tokyo Stock Exchange ToSTNeT-3 system on March 3, 2026, acquiring 11,430,000 common shares for an aggregate repurchase price of ¥99,921,060,000, and announced the repurchased shares will be cancelled. The company’s investor-relations notice states the purchase was executed under the off-auction own share repurchase trading rules and that all repurchased shares will be retired.

The company, headquartered at 11-1 Hokotate-cho, Kamitoba, Minami-ku, Kyoto 601-8501 and led by President and Representative Director Shuntaro Furukawa, delegated the order using the closing price of ¥8,742 per share as of March 2, 2026. The JP notice records the execution time as March 3, 2026 at 8:45 a.m. JST and includes the exact wording, “The Company will delegate the share repurchase at the closing price of 8,742 yen as of today (March 2, 2026) through ToSTNeT-3 on March 3, 2026, 8:45 a.m. JST (no changes to the trading method or trading time will be made). This purchase order will be valid only at the trading time mentioned above.”

The repurchase was authorized by a Board resolution passed at the meeting of the Board of Directors held on February 27, 2026 and was carried out pursuant to the Companies Act, “with reference to the resolution previously approved at the meeting of the Board of Directors held on February 27, 2026, pursuant to provisions of Article 156 of the Companies Act as applied by replacing certain terms under the provisions of Article 165, Paragraph 3 of the same Act,” according to the JP notice. The notice also carries a translation disclaimer that the Japanese original prevails in case of discrepancy.

Nintendo’s filing links the trade to a planned secondary offering by existing shareholders. The JP notice names the selling shareholders as The Nomura Trust and Banking Co., Ltd., MUFG Bank, Ltd. Retiree Allowance Trust Account, Bank of Kyoto, Ltd., DeNA Co., Ltd., and Resona Bank, Limited, and a company summary states, “As part of this share repurchase, sellers of the offering by way of purchase and subscription by the underwriters sold a part of the Company’s shares of common stock held by them.” Press summaries report the expected size of the secondary offering has been revised from approximately 32,697,900 shares to 23,665,300 shares following the buyback.

The repurchase was carried out under an earlier program that allowed up to 14.0 million shares, equivalent to 1.20 percent of shares outstanding, and a maximum purchase amount of ¥100,000,000,000. Nintendo’s executed purchase of 11,430,000 shares for ¥99,921,060,000 used nearly the full monetary limit while staying below the maximum share count.

Market reaction was immediate: market reports showed Nintendo shares fell 2.8 percent after the announcement. The company noted that the offering price for the secondary sale will be determined between March 9 and March 12, 2026, and reiterated that all repurchased shares will be cancelled, bringing the transaction to a close and altering the volume of shares available in the upcoming secondary offering.