Watts Co., Ltd. (TSE:2735) announces a share repurchase program. Under the program, the company will repurchase up to 440,000 shares, 3.24% of its issued share capital, for ¥300 million. The company will cancel all the shares repurchased.

The purpose of the acquisition and cancellation of treasury stock is to improve capital efficiency and enhance shareholder returns. The program will be valid till March 29, 2024. As of June 30, 2023, the company had 13,580,308 issued shares (excluding treasury stock) and 318,492 shares in treasury.