Chuetsu Pulp & Paper Co., Ltd. (TSE:3877) announces a share repurchase program. Under the program, the company will repurchase up to 440,000 shares, representing 3.3% of its issued share capital (excluding treasury stock), for ¥440.44 million. The shares will be repurchased at a price of ¥1,001 per share.

The purpose of the program is improving capital efficiency and enhancing shareholder returns, to enable flexible execution of capital policy in response to changes in the business environment. The program will run until March 24, 2023. As of February 28, 2023, the company had 13,350,206 shares in issue (excluding treasury stock) and 4,482 shares in treasury.