Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 34,000,000 shares, representing 2.06% of its issued share capital. The shares will be repurchased at a price of ¥4,581 per share.

The company has entered into tender offer agreements with NTT Data Corporation, Hakuhodo Dy Holdings Incorporated and Tokyo Broadcasting System Television, Inc (TBS), respectively, such that NTT Data would tender 19,700,000 shares, Hakuhodo would tender 5,355,000 shares and TBS would tender 1,500,000 shares. The company intends to utilize its own funds for the offer. The purpose of the offer is to mitigate the impact on the balance of supply and demand of its shares in the aftermarket with the possibility of uncoordinated sales by its Japanese business shareholders and the resulting potential for downward pressure on its stock price and to implement flexible capital policies in response to changes in the business environment to to achieve sustainable profit growth and increase enterprise value.

The repurchased shares may be used for strategic M&A with the Company's common stock as consideration, for the delivery of shares upon the exercise of stock acquisition rights, and for stock compensation using the company's common stock for employees of the Group and its subsidiaries. The offer is valid till March 1, 2022. As of December 31, 2021, the company had 1,648,568,285 shares issued (excluding treasury shares) and 47,391,745 shares in treasury.