Nichia Steel Works, Ltd. (TSE:5658) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.45% of its issued share capital (excluding treasury stock), for ¥210 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and implement flexible capital policies, etc.

The program will run until March 27, 2024. As of March 31, 2023, the company had 48,395,508 shares in issue (excluding treasury stock) and 3,359,970 shares in treasury.