Morinaga & Co., Ltd. (TSE:2201) announces a share repurchase program. Under the program, the company will repurchase up to 1,400,000 shares, representing 2.97% of its share capital (excluding treasury shares), for ¥6,700 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency.

The program will expire on May 19, 2023. As of March 31, 2023, the company had 47,124,506 shares outstanding (excluding treasury shares) and 1,015,263 shares in treasury.