NEOJAPAN Inc. (TSE:3921) announces a share repurchase program. Under the program, the company will repurchase up to 850,000 shares, representing 5.73% of its issued share capital (excluding treasury stock), for ¥951.15 million. The shares will be repurchased from Katsuya Otsubo, a major shareholder of the Company.

The repurchase price will be ¥1,119 per share. The purpose of the program is to boost the market capitalization of the tradable shares. As of January 31, 2024, the company had 14,829,235 shares in issue (excluding treasury stock) and 85,565 shares in treasury.