Ray Corporation (TSE:4317) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.7% of its total shares outstanding (excluding treasury shares), for a total of ¥50 million. The purpose of repurchase program is to allocate the restricted stock to be delivered after the introduction of a restricted stock compensation plan.

The repurchase program is valid till November 30, 2023. As of June 30, 2023, the company had 14,328,913 shares outstanding (excluding treasury shares) and had 63 shares in treasury.