Kyowa Leather Cloth Co., Ltd. (TSE:3553) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 1.63% of its issued share capital (excluding treasury stock), for ¥272.4 million. The shares will be repurchased at a price of ¥681 per share.

The purpose of the program is improving capital efficiency and implementing agile capital policies in response to changes in the business environment. The program will run until March 1, 2022. As of December 31, 2021, the company had 24,498,243 shares in issue (excluding treasury stock) and 1,757 shares in treasury.