Otec Corporation (TSE:1736) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 0.88% of its share capital, for ¥108.55 million. The shares will be repurchased at a price of ¥2,171 per share.

The purpose of the program is to enable a flexible capital policy that responds to changes in the business environment, improve our capital efficiency, and enhance shareholder returns. The program will expire on November 14, 2022. As of November 4, 2022, the company had 5,700,000 shares in issue (excluding treasury stock) and 345,788 shares in treasury.