GungHo Online Entertainment, Inc. (TSE:3765) announces a share repurchase program. Under the program, the company will repurchase up to 2,800,000 shares, representing 4.52% of its issued share capital for ¥5,000 million. The purpose of the program is improving shareholder returns through implementing flexible capital policies and improving capital efficiency in response to changes in the business environment.

The repurchased shares will be cancelled. The program is valid till March 24, 2023. As of December 31, 2022, the company had 61,894,643 shares issued (excluding treasury stock) and 29,304,473 shares in treasury.