Shinagawa Refractories Co., Ltd. (TSE:5351) announces a share repurchase program. Under the program, the company will repurchase 1,250,000 shares, representing 2.67% of its issued share capital (excluding treasury stock), for ¥2,250 million. The purpose of the program is to enhance the return of profits to shareholders, increase the value per share, and implement flexible capital policies in response to changes in the business environment.

The program will run until March 31, 2024. As of September 30, 2023, the company had 46,783,690 shares in issue (excluding treasury stock) and 363,140 shares in treasury.