Ray Corporation (TSE:4317) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 3.5% of its total shares outstanding (excluding treasury shares), for a total of ¥250 million. The purpose of repurchase program is to allocate the funds to shares to be delivered as restricted stock compensation and to enable flexible capital policy in response to changes in the business environment.

The repurchase program is valid till February 28, 2025. As of May 31, 2024, the company had 14,273,223 issued shares (excluding treasury shares) and 355,753 treasury shares.