Nitto Boseki Co., Ltd. (TSE:3110) announces a share repurchase program. Under the program, the company will repurchase up to 2,730,000 shares, representing 7% of its issued share capital (excluding treasury stock), for a total purchase price of ¥5,000 million. The purpose of the program is to further improve shareholder returns and capital efficiency.

The funds for the acquisition of treasury stock will be allocated by selling non-core assets (idle land, securities, etc.). The program will continue through May 24, 2023. As of March 31, 2022, the company had 39,935,512 shares issued and outstanding (excluding treasury stock) and 1,138,347 shares in treasury.