Murata Manufacturing Co., Ltd. (TSE:6981) announces a share repurchase program. Under the program, the company will repurchase up to 44,000,000 shares, representing 2.33% of its total shares outstanding excluding treasury shares, for a total of ¥80,000 million. The purpose of repurchase program is to improve capital efficiency and implement agile capital policies.

The repurchased shares will be held in treasury and if the number of treasury shares exceeds 5% of its issued shares, then the repurchased shares will be cancelled. The repurchase program is valid till October 31, 2024. As of March 31, 2024, the company had 1,889,233,361 shares outstanding excluding treasury shares and had 138,209,482 shares in treasury.