Fukuda Denshi Co., Ltd. (TSE:6960) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 6.61% of its issued share capital (excluding treasury stock), for a total purchase price of ¥15,760 million. The shares will be repurchased at a price of ¥7,880 per share.

The purpose of repurchase program is to enhance shareholder returns, improve capital efficiency, as well as a flexible capital policy that responds to changes in the business environment. The repurchased shares will be cancelled. As of December 31, 2023, the company had 30,253,539 issued shares (excluding treasury stock) and 8,922,461 treasury shares.