NOK Corporation (TSE:7240) announces a share repurchase program. Under the program, the company will repurchase up to 7,000,000 shares, representing 4.04% of its share capital, for ¥10,000 million. The purpose of the program is to improve capital efficiency and corporate value.

The program will expire on March 22, 2024. As of September 30, 2023, the company had 173,058,601 shares in issue (excluding treasury stock) and 79,936 shares in treasury.