The Baillie Gifford Japan Trust PLC commences share repurchases on March 28, 2023 , under the program mandated by the shareholders in the Annual General Meeting held on December 15, 2022. As per the mandate, the company is authorized to repurchase up to 14,039,276 ordinary shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share is 5 pence.

The maximum price which may be paid for a share must not exceed 5 per cent above the average closing price on the London Stock Exchange of an ordinary share over the five business days immediately preceding the date of purchase or the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange as stipulated by Article 5(1) of Commission Regulation (EC) 22 December 2003 implementing the Market Abuse Directive as regards exemptions for buyback programs and stabilization of financial instruments. The shares repurchased will be held in treasury shares for future reissue, resale, transfer, or cancellation. The authority shall expire at the conclusion of Annual General Meeting in 2023.

As of October 17, 2022, the company had 93,657,614 ordinary shares issued.