Nichirin Co., Ltd. (TSE:5184) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 2.86% of its issued share capital (excluding treasury stock), for a total purchase price of ¥774.8 million. The shares will be repurchased at a price of ¥1,937 per share.

The purpose of the program is to improvement of capital efficiency and execution of flexible capital policy, as well as part of shareholder return policy. As of December 31, 2022, the company has 13,992,425 issued shares (excluding treasury stock) and 379,075 treasury shares.