Nihon Seikan k.k. (TSE:5905) announces a share repurchase program. Under the program, the company will repurchase 55,000 shares, representing 4.04% of its share capital, for ¥100 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy in response to changes in the business environment, along with improving capital efficiency.

The program will run until August 31, 2024. As of September 30, 2023, the company had 1,363,055 shares outstanding (excluding treasury shares) and 28,945 shares in treasury.