Penta-Ocean Construction Co., Ltd. (TSE:1893) announces a share repurchase program. Under the program, the company will repurchase up to 3,300,000 shares, representing 1.16% of its issued share capital (excluding treasury stock), for a total purchase price of ¥2,000 million. The purpose of the program is to strengthen the management base for the future by strengthening the capital, improve profitability and increase the corporate value by investing in growth, such as in technological development and capital investment, and to provide continuous and stable dividends to shareholders, as well as to enhance shareholder returns and improve capital efficiency.

The program will continue through August 30, 2024. As of March 31, 2024, the company had 284,856,749 issued shares (excluding treasury stock) and 945,400 treasury shares.