Tokyo Steel Manufacturing Co., Ltd. (TSE:5423) announces a share repurchase program. Under the program, the company will repurchase up to 2,800,000 shares, representing 2.47% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,500 million. The purpose of the program is to carry out flexible capital policy.

The program will be valid till March 31, 2023. As of September 30, 2022, the company had 113,337,446 issued shares (excluding treasury stock) and 41,726,803 treasury shares.