Nippon Air conditioning Services Co., Ltd. (TSE:4658) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 2.01% of its issued share capital (excluding treasury stock), for a total purchase price of ?500 million. The purpose of the program is to improve capital efficiency and enable flexible execution of capital policies in response to changes in the business environment, as well as to enhance shareholder returns. The program will be valid till July 29, 2022. As of September 30, 2021, the company had 34,744,883 issued shares (excluding treasury stock) and 1,039,117 treasury shares.