The Board of Directors of Bank of Saga Ltd. (TSE:8395) authorized a share repurchase program on February 13, 2012. Under the plan, the company will repurchase up to 1,000,000 shares, representing 0.6% of its outstanding common stock, for a total cost of ¥210 million. The company will make the repurchases in accordance with the Article 165, Clause 3, of Japan's Corporate Law, as interpreted in lieu of Article 156, of Japan's Corporate Law. The purpose of the repurchase program is to conduct shareholder distribution through improvement of capital efficiency. The plan will commence on February 14, 2012 and will continue until August 13, 2012. As of January 31, 2012, the company has 167,826,876 shares outstanding and 3,532,214 shares held in treasury.

Bank of Saga Ltd. (TSE:8395) authorized a share repurchase program expired on August 13, 2012. Under the program, the company repurchased 948,000 shares, representing 0.57% of its shares for ¥209.9 million.