Mochida Pharmaceutical Co., Ltd. (TSE:4534) announces a share repurchase program. Under the program, the company will repurchase up to 1,080,000 shares, representing 2.96% of its total shares outstanding (excluding treasury shares), for a total of ¥3,500 million. The purpose of repurchase program is to improve shareholder returns and capital efficiency, and to implement a flexible capital policy that responds to changes in the business environment.

The repurchase program is valid till March 22, 2024. As of April 30, 2023, the company had 36,532,541 shares outstanding (excluding treasury shares) and had 1,967,459 shares in treasury.