Rinnai Corporation (TSE:5947) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 3.01% of its share capital, for ¥10,000 million. The company will repurchase its shares in order to improve corporate value by enhancing shareholder returns and improving capital efficiency.

The program will expire on September 22, 2022. As of March 31, 2022, the company had 49,801,480 shares outstanding (excluding treasury shares) and 219,577 shares in treasury.