Maruichi Steel Tube completes share repurchase program

Maruichi Steel Tube (TSE:5463) announced the completion of its share repurchase program, initiated under the provisions of Article 459, Paragraph 1, Item 1 of the Companies Act and approved by the board on December 6, 2024. The company repurchased a total of 4,921,900 of its own common shares for a total cost of JPY16,999,528,700. While the board had authorized the repurchase of up to 5,500,000 shares, representing 6.76% of the outstanding shares (excluding treasury stock), and a total acquisition cost of JPY20,000,000,000, the program concluded with fewer shares acquired. The repurchase period extended from December 9, 2024, to June 20, 2025, with the final acquisition period being June 1 to June 20, 2025 resulting in zero shares acquired during that time. Share were purchased through open-market transactions on the Tokyo Stock Exchange and via the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3).