Kitano Construction Corp. (TSE:1866) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 4.39% of its total shares outstanding (excluding treasury shares), for a total of ¥1,200 million.

The purpose of repurchase program is to avoid dilution of share value due to the disposal of treasury stock and to improve capital efficiency and implement flexible capital policies in response to the business environment. The program is valid till March 28, 2025. As of March 31, 2024, the company had 6,836,853 shares outstanding (excluding treasury shares) and had 1,104,619 shares in treasury.