Suncall Corporation (TSE:5985) announces a share repurchase program. Under the program, the company will repurchase up to 1,800,000 shares, representing 5.62% of its issued share capital for ¥748.84 million. The shares will be repurchased at a price of ¥416 per share.

The shares will be repurchased from Itochu Corporation and other shareholders. The program will be financed from own funds. The purpose of the program is to improve capital efficiency and implement a flexible capital policy in response to changes in the business environment .

If the offer is oversubscribed, the company will prorate the number of shares accepted for payment in one unit i.e. additional 100 shares. The program is valid till September 3, 2021 (20 business days from commencement). As of August 5, 2021, the company has 34,057,923 shares issued of which 2,027,647 shares are in treasury.