Japan Petroleum Exploration Co., Ltd. (TSE:1662) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 5.53% of issued share capital, for a total value of ¥20,000 million. The shares repurchased will be cancelled in order to increase shareholder profits by reducing the total number of issued shares.

The repurchase program will be valid till August 30, 2024. As of October 31, 2023, the company had 54,297,423 shares outstanding and 2,653 shares in treasury.