Mitsubishi Pencil Co., Ltd. (TSE:7976) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.22% of its issued share capital (excluding treasury stock), for a total purchase price of ¥980 million. The shares will be repurchased at a price of ¥1,400 per share.

The purpose of the program is to improve capital efficiency and to implement a capital policy that responds to changes in the business environment. As of January 31, 2023, the company had 57,332,276 issued shares (excluding treasury stock) and 5,954,016 treasury shares.