Rinnai Corporation (TSE:5947) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.73% 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 November 30, 2023. As of March 31, 2023, the company had 146,386,479 shares outstanding (excluding treasury shares) and 3,676,692 shares in treasury.