Japan share buybacks soar past $100 billion, driven by Sony and Hitachi
Japanese companies have announced share buyback programmes totalling more than $100 billion in fiscal 2026, with Sony ($12 billion) and Hitachi ($8 billion) leading the way. Capital returns are accelerating across the Tokyo Stock Exchange in the wake of TSE reforms.
According to Nikkei data, total buyback announcements since the start of the fiscal year have exceeded $100 billion — eclipsing the full-year 2024 record in the first quarter alone. Beyond Sony and Hitachi, Mitsubishi UFJ, NTT and Toyota have all unveiled programmes worth more than $5 billion.
The Tokyo Stock Exchange's 2024 reform required listed companies trading below book value to publish capital-efficiency plans. Since then, roughly half of TSE Prime Market constituents have revised their plans, and Nomura analysts project total buybacks could reach $150 billion by year-end.
The Nikkei 225 is up about 11% year-to-date. Net foreign inflows have risen by approximately $28 billion over the past three months. The Bank of Japan's still-cautious monetary policy and a relatively weak yen are sustaining global appetite for Japanese equities.
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