Rinnai Corporation (TSE:5947) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.79% of its share capital, for ¥10,000 million. The company will repurchase its shares in order to further increase corporate value by enhancing shareholder returns and improving capital efficiency.

The program will expire on January 31, 2025. As of March 31, 2024, the company had 143,203,548 shares outstanding (excluding treasury shares) and 3,473,623 shares in treasury.