Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces a share repurchase program. Under the program, the company will repurchase up to 187,500 shares, representing 1.24% of its issued share capital (excluding treasury stock), for ¥300 million. The shares will be repurchased at a price of ¥2,372 per share.

The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until May 31, 2022. As of March 31, 2022, the company had 15,088,867 shares in issue (excluding treasury stock) and 408,466 shares in treasury.