Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces a share repurchase program. Under the program, the company will repurchase up to 666,000 shares, representing 4.45% of its issued share capital (excluding treasury stock), for ¥2,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency.

The program will run until June 30, 2023. As of March 31, 2023, the company had 14,956,363 shares in issue (excluding treasury stock) and 540,970 shares in treasury.