Tokushu Tokai Paper Co., Ltd. (TSE:3708) announces a share repurchase program. Under the program, the company will repurchase 100,000 shares, representing 0.84% of the outstanding shares, for ¥337 million. The shares will be repurchased at a price of ¥3,370 per share.

The program is aimed at improving capital efficiency, enhancing shareholder returns, and implementing a flexible capital policy that responds to future changes in the business environment. The program will expire on August 14, 2023. As of June 30, 2023, the company had 11,895,640 shares outstanding and 1,404,360 shares in treasury.