Noritz Corporation (TSE:5943) announces a share repurchase program. Under the program, the company will repurchase 1,100,000 shares, representing 2.39% of its share capital for ¥2,000 million. The company will repurchase its shares to avoid diluting the stock value due to the disposal of treasury stock, improve capital efficiency, and implement agile capital policies according to the business environment.

The program is subject to the approval of the Company's Ordinary General Meeting of Shareholders regarding the disposal of the treasury stock. The repurchase program will expire on December 31, 2022. As of December 31, 2021, the company had 50,797,651 shares outstanding and 4,798,597 shares in treasury.