Morinaga & Co., Ltd. (TSE:2201) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares, representing 1.67% of its share capital, for ¥4,000 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency.

The program will expire on February 22, 2023. As of December 31, 2022, the company had 47,775,120 shares outstanding (excluding treasury shares) and 1,014,649 shares in treasury.