Okamoto Industries, Inc. (TSE:5122) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 2.22% of its total shares outstanding (excluding treasury shares), for a total of ¥2,000 million. The purpose of repurchase program is to enhance shareholder returns, improve capital efficiency while considering the market environment and to enable a flexible capital policy in the future.

The repurchase program is valid till September 30, 2023. As of December 16, 2022, the company has 18,001,049 shares outstanding (excluding treasury shares) and has 598,318 shares in treasury.