Maruo Calcium Co., Ltd. (TSE:4102) announces an share repurchase program. Under the program the company will repurchase 80,000 shares, representing 3.52% of the outstanding shares, at ¥1,336 per share for ¥106.88 million. The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment.. As of September 30, 2020, the company had 2,275,071 shares outstanding and 80,129 shares in treasury.