The Kamogawa Grand Hotel, Ltd. (JASDAQ:9695) announces a share repurchase program. Under the program, the company will repurchase up to 1,491,784 shares, representing 14.29% of its share capital. Such shares will be repurchased for free from a deceased shareholder.

The purpose of the program is to improve, and aim for the effective use of the shareholders' value. The shares will be repurchased pursuant to Article 155 of the Companies Act and Item 1 Article 27 of the Ordinance for Enforcement of the Companies Act.