Choei Inc. (TSE:2993) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 2.27% of its issued share capital (excluding treasury stock), for a total purchase price of ¥185 million. The shares will be repurchased at a price of ¥1,850 per share.

The purpose of the program is to allocate funds to the exercise of issued stock options, flexibly respond to changes in the business environment and to improve the capital efficiency. As of December 31, 2022, the company had 4,401,400 issued shares (excluding treasury stock) and 72,000 treasury shares.