Koken Boring Machine Co.,Ltd. (JASDAQ:6297) announces a share repurchase program. Under the program, the company will repurchase up to 550,000 shares, representing 6.13% of its issued share capital for ¥313.5 million. The shares will be repurchased at a price of ¥570 per share.

Hitachi Construction Machinery Co., Ltd, the largest shareholder of the company has the intention to sell shares. The purpose of the program is to implement agile capital policies and improve capital efficiency in response to changes in the business environment. The program will expire on April 28, 2021.

As of March 31, 2021, the company had 8,966,560 shares in issue and 3,551 shares in treasury.