NEPON Inc. (TSE:7985) announces a share repurchase program. Under the program, the company will repurchase up to 239,000 shares, representing 20.03% of the outstanding common stock for ¥330 million. The shares will be repurchased from Sato Shoji Co., Ltd. The shares will be repurchased at a price of ¥1,375 per share.

The repurchased shares will be cancelled. The purpose of the program is to improve shareholder value in order to meet the market capitalization standard at an early stage. The program will run until November 8, 2021.

As of September 30, 2021, the company had 1,197,453 shares in issue (excluding treasury shares) and 5,395 shares in treasury.