Murata (6981): Share buyback ceilings, monthly purchases, treasury holdings

２ 自己株式の取得等の状況, the section on acquisitions and other movements of treasury shares in the annual securities report of Murata Manufacturing Co., Ltd. for its 90th fiscal year, April 2025 to March 2026, filed on EDINET on June 24, 2026, occupies pages 64 and 65 of 192. It opens with one line, 【株式の種類等】 会社法第155条第３号に該当する普通株式の取得及び会社法第155条第７号に該当する単元未満株式の買取請求による普通株式の取得及び会社法第155条第13号に該当する普通株式の無償取得, acquisitions of common shares under item 3 of Article 155 of the Companies Act, purchases of shares of less than one unit under item 7, and acquisitions without consideration under item 13. Four numbered parts follow: (1) acquisitions by resolution of the shareholders' meeting, (2) acquisitions by resolution of the board, (3) acquisitions based on neither, and (4) the disposal and holding of the shares acquired. This piece reads the four parts, sets them beside the same section on pages 71 and 72 of 190 in the 89th report, filed June 24, 2025, follows the figures to the other pages where they reappear, and then reads seven monthly 自己株券買付状況報告書, reports on the status of purchases of own shares, filed between November 2025 and October 2026.

Part (1), 株主総会決議による取得の状況, is one line in both reports: 該当事項はありません, not applicable. Part (2), 取締役会決議による取得の状況, has two blocks in each report, and each block has the same seven rows: the resolution with its ceiling in shares and in yen, shares acquired before the fiscal year, shares acquired during the fiscal year, the remaining balance of the resolution, the unexercised ratio at the fiscal year-end, shares acquired in 当期間, the period after the year-end, and the unexercised ratio at the filing date. The first block on page 64 is 取締役会（2025年４月30日）での決議状況, the board resolution of April 30, 2025: 77,000,000 shares and 100,000,000,000 yen (US$610.5 million), each marked 上限, a ceiling, with 取得期間2025年５月７日〜2025年10月29日, an acquisition period from May 7 to October 29, 2025. 当事業年度における取得自己株式 is 42,158,500 shares and 99,999,906,141 yen (US$610.5 million); 残存決議株式の総数及び価額の総額 is 34,841,500 shares and 93,859 yen (US$573); 当事業年度の末日現在の未行使割合（％） is printed as 45.2 for shares and 0.0 for value, and the 提出日現在 line repeats 45.2 and 0.0. The note states 自己株式の取得方法は、東京証券取引所における市場買付であります, that the method was market purchase on the Tokyo Stock Exchange.

The same resolution appears a year earlier in the second block on page 71 of the 89th report, where the fiscal-year rows are dashes and the 当期間 row prints 10,632,700 shares and 21,886,563,550 yen (US$133.6 million), with 提出日現在の未行使割合 of 86.2 for shares and 78.1 for value; note 2 there limits the row to purchases before June 1, 2025. The 89th report's subsequent-events note on page 167 prints the resolution with its reason, 資本効率の向上を図るとともに、機動的な財務戦略を可能にするために、自己株式の取得を行うものです, to improve capital efficiency and make an agile financial strategy possible, and gives 発行済株式総数（自己株式を除く）に対する割合 as 4.13 percent. The monthly report filed November 10, 2025 for October 2025 closes the period: twenty dated rows from 10月１日 to 10月29日, a 計 line of 7,991,500 shares and 23,046,178,476 yen (US$140.7 million), 報告月末現在の累計取得自己株式 of 42,158,500 shares and 99,999,906,141 yen (US$610.5 million), and 自己株式取得の進捗状況（％） of 54.8 for shares and 100.0 for value. The smallest of the twenty rows is 10月20日, 220,000 shares for 638,008,250 yen (US$3.9 million); the other nineteen print between 396,100 and 423,900 shares. The cumulative line and the annual report's 当事業年度 row print the same two figures.

The block above it on page 71 is the resolution of the year before, 取締役会（2024年４月26日）での決議状況: 44,000,000 shares and 80,000,000,000 yen (US$488.4 million), with an acquisition period from April 30 to October 31, 2024. The 89th report prints 27,611,000 shares and 79,999,822,685 yen (US$488.4 million) acquired in the fiscal year, a remaining balance of 16,389,000 shares and 177,315 yen (US$1,083), and an unexercised ratio of 37.2 for shares and 0.0 for value at both the year-end and the filing date. The two resolutions, dated April 26, 2024 and April 30, 2025, both print 0.0 in the value column and a two-digit figure in the share column, 37.2 and 45.2; the percentages are the reports' own, and the ceilings in the two columns are two separate printed limits.

The second block on page 64 of the 90th report is 取締役会（2026年４月30日）での決議状況: 75,000,000 shares and 150,000,000,000 yen (US$915.8 million), each 上限, with 取得期間2026年５月11日〜2027年１月29日. Every row below it is a dash except the last, where 提出日現在の未行使割合 is printed as 100.0 for shares and 100.0 for value. Note 2 states: 当期間における取得自己株式には、2026年６月１日からこの有価証券報告書提出日までの市場買付けにより取得した株式は含まれておりません, market purchases from June 1, 2026 to the filing date are not included. The resolution is also the subject of note 42, 後発事象, on page 168, headed 自己株式の取得及び消却, acquisition and cancellation of own shares. The note states that the board resolved the acquisition 会社法第459条第1項の規定による定款の定めに基づき, under the articles of incorporation as permitted by Article 459, paragraph 1 of the Companies Act, and the cancellation 同法第178条の規定に基づき, under Article 178; gives the reason in one line, 資本効率の向上のため, to improve capital efficiency; prints 発行済株式総数（自己株式を除く）に対する割合 as 4.12 percent; marks the acquisition period 約定ベース, trade-date basis; and under ３．消却に係る事項の内容 prints 消却する株式の総数 as 上記２．に基づき取得する全株式数, all shares acquired under the resolution, with 消却予定日 2027年２月26日. Page 75 of the same report states that the articles allow matters under Article 459, paragraph 1 to be decided by the board rather than the shareholders' meeting, 機動的な資本政策及び配当政策を図ることを目的とするものであります.

Part (3), 株主総会決議又は取締役会決議に基づかないものの内容, prints 12,064 shares and 8,197,621 yen (US$50,047) for the fiscal year and 1,445 shares and 913,377 yen (US$5,576) for 当期間. Note 1 divides the fiscal-year figure: 2,824株は会社法第155条第７号によるものであり、9,240株は会社法第155条第13号によるものであります, 2,824 shares under item 7 and 9,240 under item 13; note 2 divides the 当期間 figure as 245 and 1,200 shares; note 3 excludes, from June 1, 2026 to the filing date, 単元未満株式買取による株式及び譲渡制限付株式報酬制度により無償取得した株式, odd-lot purchases and shares acquired without consideration under the restricted stock plan. The 89th report's part (3) printed 6,581 shares and 6,376,353 yen (US$38,928) for its fiscal year, divided as 2,231 and 4,350, and 1,207 shares and 570,677 yen (US$3,484) for its 当期間, divided as 277 and 930. The item-13 acquisitions have their mechanism in note 36, 株式に基づく報酬, on page 165 of the 90th report: the restricted stock allotment agreements provide that 一定の事由が生じた場合には当社が無償で株式を取得する, the company acquires the shares without consideration when certain events occur.

Part (4), 取得自己株式の処理状況及び保有状況, on page 65 of the 90th report has a column headed 処分価額の総額（円）. The row 引き受ける者の募集を行った取得自己株式, shares disposed of by offering to subscribers, prints 101,605 shares and 147,797,681 yen (US$902,306) for the fiscal year and dashes for 当期間; 消却の処分を行った取得自己株式, cancellation, is a dash in both columns; その他（単元未満株式の売渡請求による売渡） prints 60 shares and 84,129 yen (US$514); and 保有自己株式数 is 142,709,692 for the fiscal year and 142,711,137 for 当期間. Note 2 states that the 当期間 holding does not include market purchases, odd-lot purchases and sales, or shares acquired without consideration under the restricted stock plan between June 1, 2026 and the filing date. The 101,605 reappears twice. Note 36 on page 165 prints, under 取締役及び執行役員譲渡分 for the fiscal year, 付与日 2025年７月25日 and 付与数（株） 101,605. The 臨時報告書 filed June 27, 2025 prints a board resolution of the same date to dispose of treasury shares under the restricted stock plan: 処分数 101,605株, 処分価格の総額 215,199,390 yen (US$1.3 million), allotted to 当社の取締役 ５名 with 46,990 shares and 当社の執行役員 18名 with 54,615 shares, with 本処分期日 2025年７月25日.

The two documents therefore print two totals for one count of 101,605 shares: 147,797,681 yen (US$902,306) in the annual report's column headed 処分価額の総額 and 215,199,390 yen (US$1.3 million) in the extraordinary report's column headed 処分価格の総額. This piece reads each as the amount printed in its own column and does not reconcile them. The report's accounting policy for own shares, (19) 資本 ② 自己株式 on page 123, states: 自己株式は取得原価で評価され、資本から控除しております。当社の自己株式の購入、売却又は消却において利得又は損失は認識しておりません。なお、帳簿価額と売却時の対価との差額は資本として認識しております, own shares are measured at acquisition cost and deducted from equity, no gain or loss is recognised on their purchase, sale or cancellation, and the difference between carrying amount and sale consideration is recognised in equity. The consolidated statement of changes in equity on page 112 carries a row 株式報酬取引, share-based payment transactions, with 862 in 資本剰余金 and 148 in 自己株式 for the fiscal year, in millions of yen (US$5.3 million and US$0.90 million), against △290 and 902 (US$1.8 million and US$5.5 million) the year before.

Part (4) of the 89th report, on page 72, is the page where the cancellations are. 引き受ける者の募集を行った取得自己株式 prints 745,165 shares and 901,686,217 yen (US$5.5 million); 消却の処分を行った取得自己株式 prints 64,441,000 shares and 77,353,885,040 yen (US$472.2 million); その他 prints 105 shares and 113,922 yen (US$695) for the fiscal year and 50 shares and 67,658 yen (US$413) for 当期間; 保有自己株式数 is 100,640,793 for the fiscal year and 111,274,650 for 当期間. The cancellation reappears on other pages of that report, of which this piece reads three. Table (4) 発行済株式総数、資本金等の推移 on page 67 prints two dated lines, 2024年５月31日 with △36,830 thousand shares and a balance of 1,990,612 thousand, and 2024年11月29日 with △27,611 thousand shares and a balance of 1,963,001 thousand, each marked 注２, 自己株式の消却によるものであります; 資本金 stays at 69,444 million yen (US$424.0 million) and 資本準備金 at 107,733 million yen (US$657.7 million) on both lines. Note 25 on page 148 states 自己株式を消却したことにより、発行済株式総数が64,441,000株減少しております. The equity statement on page 113 carries the row 自己株式の消却 with △20,812 in 資本剰余金, △56,541 in 利益剰余金 and 77,353 in 自己株式, in millions of yen (US$127.1 million, US$345.2 million and US$472.2 million). The 27,611 thousand shares cancelled on November 29, 2024 and the 27,611,000 shares acquired under the April 26, 2024 resolution are printed as the same count.

The 90th report prints no cancellation for the year to March 31, 2026. The 消却 row of part (4) is a dash, the 発行済株式 table on page 60 prints 1,963,001,843 shares both 事業年度末現在, at March 31, 2026, and 提出日現在, at June 24, 2026, and note 26 on page 149 prints 期中増減 as a dash for the fiscal year, leaving 発行済株式数 at 1,963,001,843. The same note's second table, (2) 自己株式, carries the count of treasury shares from 100,640,793 at March 31, 2025 through 期中増減 of 42,068,899 to 142,709,692 at March 31, 2026, and its note 2 divides the movement: 自己株式の期中株式増加数は42,170,564株であり、主な要因は、会社法第165条第２項の規定による定款の定めに基づく取得及び譲渡制限付株式報酬制度における無償取得によるものであります, an increase of 42,170,564 shares mainly from acquisitions under the articles of incorporation as permitted by Article 165, paragraph 2 and from acquisitions without consideration under the restricted stock plan, and 自己株式の期中株式減少数は101,665株, a decrease of 101,665 shares mainly from the disposal of treasury shares as restricted stock compensation. For the year before, the same note prints an increase of 27,617,581 and a decrease of 65,186,270, the decrease attributed to the cancellation, the restricted stock disposal and odd-lot sales.

The holding of 142,709,692 shares is printed in three other forms in the 90th report. (７) 議決権の状況 on page 63 prints 完全議決権株式（自己株式等） as 普通株式 142,709,600 with a dash in the votes column, its note stating that the line is 全て当社所有の自己株式, all treasury shares held by the company; 完全議決権株式（その他） is 1,819,489,500 shares and 18,194,895 votes, and 単元未満株式 is 802,743 shares. ②【自己株式等】 on the same page lists one holder, 株式会社村田製作所 at 京都府長岡京市東神足１丁目10番１号, with 142,709,600 shares under 自己名義所有 and 7.3 percent of issued shares. The note to (５) 所有者別状況 on page 61 states that 自己株式 are included as 1,427,096単元 in 個人その他 and 92株 in 単元未満株式の状況. The 89th report's page 70 printed the corresponding lines as 100,640,700 shares and 5.1 percent. The 142,709,600 on page 63 sits in a column headed 株式数（株）, a share count, in a table whose 内容 column reads 単元株式数100株; the desk confirmed that 1,427,096 units of 100 shares and 92 shares come to 142,709,692, a product that is the desk's and not a figure the report prints.

In yen, the treasury line of the consolidated statement of financial position on page 109 is 自己株式 △135,192 at March 31, 2025 and △235,052 at March 31, 2026, in millions of yen (US$825.3 million and US$1,435.0 million). The statement of changes in equity on page 112 prints 自己株式の取得 as △100,008 million yen (US$610.5 million) for the fiscal year and △80,006 million yen (US$488.4 million) for the year before, and 自己株式の消却 as a row of dashes for the fiscal year. The consolidated cash flow statement on page 113 prints 自己株式の取得による支出 as △80,006 and △100,008 in the two years, in millions of yen (US$488.4 million and US$610.5 million), and the management discussion on page 52 states: これは、主に配当金の支払額が110,720百万円、自己株式の取得による支出が100,008百万円となったことによるものです, financing outflows mainly from dividends of 110,720 million yen (US$675.9 million) and purchases of own shares of 100,008 million yen (US$610.5 million). The 89th report's page 59 gave the same sentence for its year with dividends of 101,581 million yen (US$620.2 million), purchases of own shares of 80,006 million yen (US$488.4 million) and bond redemptions of 50,000 million yen (US$305.3 million). The parent-only balance sheet on page 171 prints 自己株式 as △135,191 and △235,051 in millions of yen (US$825.3 million and US$1,435.0 million), and the parent-only statement of changes in equity on pages 173 and 174 prints 自己株式の取得 as △80,006 and △100,008, in millions of yen (US$488.4 million and US$610.5 million).

The sentences that frame the figures are on three pages. Page 21, under 「キャピタル・アロケーション」 within 中期方針2027, prints the cumulative amounts: 設備投資の累計は2,478億円 (US$1,513 million), 戦略投資は、実行済及び実行決裁済案件の累計が283億円 (US$173 million), and 株主還元は、配当金の支払い累計が1,107億円 (US$676 million)、自己株式取得が1,000億円 (US$611 million), followed by 事業環境に応じた追加的な株主還元を機動的に実施することでステークホルダーの皆様の期待に応えてまいります. Page 53, under 財務戦略と経営資源の配分に関する考え方, states the DOE target, 2027年度を目標にＤＯＥ（親会社所有者帰属持分配当率）５％に引き上げること, and adds 自己株式の取得につきましても株主還元の手段として、資本効率の改善等を目的として適宜実施することといたします. ３ 配当政策 on page 66 prints: また、当社は自己株式の取得につきましても、株主への利益還元策として捉えており、資本効率の改善を目的に適宜実施しております. The 89th report's page 73 printed the same sentence with 株主の皆様への where the 90th prints 株主への, and stated as its basic policy １株当たり利益を増加させることにより配当の安定的な増加に努める where the 90th states the DOE target. The dividends on page 66 are an interim of 30 yen (US$0.18) resolved by the board on October 31, 2025, 54,849 million yen (US$334.9 million) in total, and a year-end of 35 yen (US$0.21) put to the shareholders' meeting of June 29, 2026, 63,710 million yen (US$388.9 million), against 27 yen (US$0.16) and 30 yen (US$0.18) the year before.

Seven monthly reports, docTypeCode 220 on the EDINET index, follow the resolutions outside the annual reports. The four filed May 13, June 5, July 7 and August 7, 2026, covering April to July, each print the April 30, 2026 resolution at 75,000,000 shares and 150,000,000,000 yen (US$915.8 million), a 報告月における取得自己株式（取得日） row of dashes, a 計 line of dashes, and 自己株式取得の進捗状況（％） of 0.0 and 0.0 from May onwards, with dashes in April. Their ３ 保有状況 pages print 保有自己株式数 of 142,710,567 at April 30, 142,711,137 at May 31, 142,712,565 at June 30 and 142,689,471 at July 31, each with 発行済株式総数 1,963,001,843 and a note that the figure includes odd-lot purchases and shares acquired without consideration under the restricted stock plan; the May figure is the figure the annual report prints in its 当期間 column. The July report is the one with a ２ 処理状況 table: その他（業績連動型株式報酬としての自己株式の処分） on 7月13日, 1,893 shares and 3,117,885 yen (US$19,035); その他（譲渡制限付株式報酬としての自己株式の処分） on 7月28日, 22,335 shares and 36,787,085 yen (US$224,585); その他（単元未満株式の買増請求による売渡） on 7月16日, 55 shares and 90,588 yen (US$553); 合計 24,283 shares and 39,995,558 yen (US$244,173). The 22,335 shares are the 処分数 of the 臨時報告書 filed June 29, 2026, which prints a 処分価格の総額 of 240,547,950 yen (US$1.5 million), allottees of 当社の取締役 ５名 with 9,775 shares and 当社の執行役員 20名 with 12,560 shares, and a 処分期日 of 2026年７月28日.

The report filed September 7, 2026 for August is the first of the seven with dated purchase rows under the 2026 resolution: twenty rows from ８月３日 to ８月31日, a 計 line of 8,160,300 shares and 59,999,969,500 yen (US$366.3 million), a cumulative line of the same two figures, and 進捗状況 of 10.9 for shares and 40.0 for value. The largest row is ８月24日, 597,000 shares for 4,251,326,000 yen (US$26.0 million); the smallest is ８月28日, 95,000 shares for 702,793,000 yen (US$4.3 million); six rows, from ８月19日 to ８月26日, print more than 460,000 shares each. A note states 取得期間及び報告月における取得自己株式（取得日）は約定ベースで記載しております, that the period and the dated rows are on a trade-date basis. The ２ 処理状況 table prints one line, その他（単元未満株式の買増請求による売渡） on ８月13日, 40 shares and 69,039 yen (US$421), and ３ 保有状況 prints 150,328,961 shares at August 31.

The report filed October 7, 2026 for September prints fourteen dated rows from ９月１日 to ９月18日, a 計 line of 2,241,000 shares and 16,098,831,200 yen (US$98.3 million), 報告月末現在の累計取得自己株式 of 10,401,300 shares and 76,098,800,700 yen (US$464.6 million), and 進捗状況 of 13.9 for shares and 50.7 for value, with the same 約定ベース note. The largest row is ９月２日, 271,500 shares for 1,869,174,300 yen (US$11.4 million); the smallest is ９月18日, 100,000 shares for 761,406,200 yen (US$4.6 million), and it is the last dated row in the table. ２ 処理状況 is 該当事項はありません, and ３ 保有状況 prints 153,092,489 shares at September 30, 2026. Page 184 of the 90th report lists the reports the company filed during the year under (5) 自己株券買付状況報告書, with report periods from June 2025 to October 2025 and from April 2026 to May 2026 and filing dates from July 7, 2025 to June 5, 2026; of these, the October 2025 report is the one read above.

For a reader who needs one of these numbers, the report prints it in a fixed place. The ceiling of a resolution and the shares bought against it are in part (2) of the section, with the unexercised ratio as the report's own percentage, and the monthly reports carry the same resolution forward with a progress ratio of their own. The cancellations are in part (4) of the 89th report, in table (4) of 株式等の状況 as dated changes in issued shares, in the equity statement as a row of three figures, and in the consolidated note as a decrease of 64,441,000 shares; the planned cancellation of the shares bought under the 2026 resolution is in note 42 with a date of February 26, 2027. The count of shares held is in part (4), in 議決権の状況 to the unit, in the consolidated note as a movement, and in the monthly reports at each month-end. What the company bought after the year-end is in the 当期間 column up to May 31, 2026 and in the monthly reports after that.