Nippon Carbide Industries Co., Inc. (TSE:4064) announces a share repurchase program. Under the program, the company will repurchase up to 140,000 shares, representing 1.49% of its total shares outstanding excluding treasury shares, for a total of ¥200 million. The purpose of repurchase program is to improve capital efficiency and enhance shareholder returns.

The repurchase program is valid till April 30, 2024. As of December 31, 2023, the company had 9,412,454 shares outstanding excluding treasury shares and had 7,221 shares in treasury.