XNET Corporation (TSE:4762) announces a share repurchase program. Under the program, the company will repurchase up to 4,109,500 shares, representing 49.74% of its issued share capital (excluding treasury stock), for ¥94.88 million. The shares will be repurchased at a price of ¥1,460 per share.

The purpose of the program is to reduce the impact on shareholders through the deterioration of supply and demand in the stock market due to the large-scale offering of company's shares on the stock market, to improve capital efficiency, to realize shareholder returns, to realize flexible and stable business operations. As of March 31, 2024, the company had 8,261,552 shares in issue (excluding treasury stock) and 48 shares in treasury.