Otani Kogyo Co.,Ltd. (JASDAQ:5939) announces a share repurchase program. Under the program, the company will repurchase up to 1,100,000 shares, representing 12.51% of outstanding shares. The shares will be purchased at a price of ¥295 per share for a total of ¥324.5 million.

The shares will be repurchased on the Tokyo Stock Exchange off-floor treasury share trading (ToSTNeT-3). The purpose of the program is for the improvement of capital efficiency, along with enabling the implementation of a flexible capital policy in response to the changes in the business environment. As of March 15, 2016, the company had 8,792,975 outstanding shares excluding treasury shares and 7,025 shares in treasury.