River Eletec Corporation (TSE:6666) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 4.63% of its issued share capital, for ¥280 million. The purpose of the program is improve corporate value by enhancing shareholder returns and improving capital efficiency.

The program will be valid till December 22, 2023. As of May 31, 2023, the company had 8,630,054 issued shares (excluding treasury stock) and 62,598 shares in treasury.