Aichi Electric Co., Ltd. (NSE:6623) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 1.05% of its share capital, at ¥4,060 per share for ¥406 million. The company will repurchase its shares in order to improve capital efficiency, implement shareholder returns, and a flexible capital policy which responds to changes in the business environment.

The program is valid till May 1, 2024. As of April 30, 2024, the company had 9,497,461 shares outstanding (excluding treasury shares) and 2,539 shares in treasury.