Toyo Kanetsu K.K. (TSE:6369) announces a share repurchase program. Under the program, the company will repurchase up to 430,000 shares, representing 5.32% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,200 million. The purpose of the program is to increase corporate value by improving capital efficiency.

The program will be valid till July 31, 2023. As of April 30, 2023, the company had 53,554,791 shares outstanding (excluding treasury shares) and 333,809 shares in its treasury.