Riken Corundum Company Limited. (TSE:5395) announces a share repurchase program. Under the program, the company will repurchase up to 20,000 shares, representing 2.17% of its issued share capital, for ¥50 million.

The purpose of the program is to enhance shareholder returns and improve capital efficiency. The plan will be valid till January 31, 2024. As on December 31, 2022, the company had 921,958 issued shares (treasury shares excluded) and 170 shares were held under treasury.