Tokyo Radiator Mfg.Co.,Ltd. (TSE:7235) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 34.75% of its share capital, for ¥3,700 million. The shares will be repurchased at a price of ¥740 per share from Marelli Corporation.

The purpose of the program is improving capital efficiency and realizing flexible and stable business operations of the company. The program will expire on February 16, 2023. As of January 31, 2023, the company had 14,387,893 shares in issue (excluding treasury stock) and 12,107 shares in treasury.