MegaChips Corporation (TSE:6875) announces a share repurchase program. Under the program, the company will repurchase 480,000 shares, representing 2.61% of its share capital (excluding treasury shares), for ¥2,000 million. The purpose of program is to return profits to shareholders and improve capital efficiency.

The repurchased shares will be cancelled. The program will run until July 31, 2024. As of December 31, 2023, the company had 18,384,098 shares outstanding (excluding treasury shares) and 2,748,302 shares in treasury.