Nihon Seikan k.k. (TSE:5905) announces a share repurchase program. Under the program, the company will repurchase 12,000 shares, representing 0.88% of its share capital, for ¥16 million. The company will repurchase its shares in order to improve capital efficiency, prepare for a flexible capital policy, and enable the implementation of a flexible capital policy that responds to changes in the business environment.

The program will run until March 31, 2023. As of September 30, 2022, the company had 1,366,065 shares outstanding (excluding treasury shares) and 25,935 shares in treasury.