Nichias Corporation (TSE:5393) announces a share repurchase program. Under the program, the company will repurchase 700,000 shares, representing 1.06% of the outstanding shares for ¥2,786 million. The shares will be repurchased at ¥3,980 per share.

The purpose of the program is to improve shareholder returns and capital efficiency. As of September 30, 2023, the company had 66,345,253 shares outstanding and 1,466,664 shares in treasury.