Okayama Paper Industries Co., Ltd. (JASDAQ:3892) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 12.8% of its issued share capital. Repurchases will be made at a price of ¥446 per share, the closing price of October 14, 2015 for a total of ¥401.4 million.

The purpose of repurchase program is to enable the implementation of a flexible capital policy in response to change in the business environment.