[Waseda Academy] Implementation of Share Buyback for Officers and Employees | August 20, 2026

Overview of Capital Policy

Waseda Academy will dispose of 90,000 shares of treasury stock on August 20, 2026, as part of its stock compensation scheme for officers and employees. The disposal price is based on the recent closing price of 2,568 yen in the stock market, and the total proceeds are expected to be approximately 2.3 billion yen. This disposal aims to enhance the motivation of directors and employees to improve corporate value, with a low equity dilution rate of 0.47%. The transaction will be conducted based on a trust agreement, and the impact on the stock market is expected to be limited.

Purpose and Background

This share buyback is intended to improve Waseda Academy’s mid- to long-term corporate value and strengthen incentives for officers and employees. The trust period is from September 2026 to August 2029, and the share allocation will be carried out under a trust agreement. The dilution from the disposal of shares is limited, and the impact on shareholders and the market is deemed minimal.