Morinaga&Co., Ltd. (TSE:2201) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.52% of its share capital (excluding treasury shares), for ¥4,550 million. The company will repurchase its shares in order to enhance returns to shareholders and improve capital efficiency.

The program will expire on November 17, 2023. As of September 30, 2023, the company had 45,942,959 shares outstanding (excluding treasury shares) and 1,016,810 shares in treasury.