Tokyo Steel Manufacturing Co., Ltd. (TSE:5423) announces a share repurchase program. Under the program, the company will repurchase up to 2,800,000 shares, representing 2.42% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The purpose of the program is to carry out agile capital policy.

The program will be valid till December 31, 2022. As of March 31, 2022, the company had 115,789,163 issued shares (excluding treasury stock) and 39,275,086 treasury shares.