The Board of Directors of Okura Industrial Co., Ltd. (TSE:4221) authorized a share repurchase program on September 14, 2012. Under the program, the company will repurchase up to 2,000,000 shares, representing 3.27% of the total outstanding shares, excluding treasury shares. The repurchase will amount to ¥450 million.

The purpose of the repurchase program is to improve capital efficiency, and to increase the value per share by improving supply and demand, to enable the company to implement a flexible capital policy corresponding to changes in the business environment. The repurchases will be based on Article 156 of the Company Act. The repurchases will commence on September 18, 2012, and will end on August 31, 2013.

As of August 31, the company has 61,197,297 shares, excluding treasury shares, and has 877,054 shares in treasury.