Nichicon Corporation (TSE:6996) announces a share repurchase program. Under the program, the company will repurchase 1,300,000 shares, representing 1.87% of its share capital, at ¥1,232 per share for ¥1,500 million. The company will repurchase its shares in order to alleviate the short-term impact on its share supply and demand associated with its issuance of convertible bonds with stock acquisition rights due 2024, increase shareholder value per share and enhance shareholder returns, in addition to implementing a flexible capital policy in response to changes in the business environment and curbing share dilution. As of September 30, 2019, the company had 69,636,932 shares outstanding (excluding treasury shares) and 8,363,068 shares in treasury.