Mitsuboshi Belting Ltd. (TSE:5192) announces a share repurchase program. Under the program, the company will repurchase up to 450,000 shares, representing 1.56% of its issued share capital (excluding treasury stock), for ¥1,203.75 million. The shares will be repurchased at a price of ¥2,675 per share.

The purpose of the program is improve capital efficiency and implement agile capital policies in response to changes in the business environment. The program will run until May 19, 2022. As of April 30, 2022, the company had 28,782,135 shares in issue (excluding treasury stock) and 3,822,063 shares in treasury.