Okayama Paper Industries Co., Ltd. (TSE:3892) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 7.99% of its issued share capital, for ¥333.6 million. Repurchases will be made at a price of ¥834 per share.

The purpose of repurchase program is to enable the execution of flexible capital policies in response to changes in the business environment. The program will run until February 15, 2023. As of November 30, 2022, the company had 5,006,183 shares outstanding (excluding treasury stock) and 493,817 shares in treasury.