Nippon Felt Co., Ltd. (TSE:3512) announces a share repurchase program. Under the program, the company will repurchase up to 646,500 shares, representing 3.43% of its issued share capital (excluding treasury stock), for a total purchase price of ¥271.53 million. The shares will be repurchased at a price of ¥420 per share.

The purpose of the program is to carry out capital policy in response to changes in the business environment. As of August 28, 2023, the company has 18,875,580 issued shares (excluding treasury stock) and 966,509 treasury shares.