JVCKENWOOD Corporation (TSE:6632) announces a share repurchase program. Under the program, the company will repurchase up to 12,000,000 shares, representing 7.32% of its total shares outstanding (excluding treasury shares), for a total of ¥4,000 million. The purpose of repurchase program is to improve capital efficiency and return on equity of the parent company, achieve PBR and increase earnings per share, as well as to return profits to shareholders.

The repurchase program is valid till September 29, 2023. As of March 31, 2023, the company had 163,937,409 shares outstanding (excluding treasury shares) and had 62,792 shares in treasury.