Maruichi Steel Tube Ltd. (TSE:5463) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 1.24% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,500 million. The purpose of the program is to enable improvement of capital efficiency and agile execution of capital policy.

The repurchased shares will be cancelled. The program will be valid till May 31, 2022. As of December 31, 2021, the company had 80,691,074 issued shares (excluding treasury stock) and 13,308,926 treasury shares.