Nippon Densetsu Kogyo Co., Ltd. (TSE:1950) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 4.06% of its share capital, for ¥5,215 million. The shares will be repurchased at a price of ¥2,086 per share.

The company will repurchase its shares in consideration of the impact that the temporary release on the market may have on the market price of the company's shares post the selling of shares held by Mizuho Bank, Ltd. The program will expire on February 14, 2024. As of September 30, 2023, the company had 61,513,674 shares in issue (excluding treasury stock) and 23,545 shares in treasury.