The Board of Directors of The Kosei Securities Co., Ltd. (TSE:8617) authorized a share repurchase program on May 23, 2012. Under the program, the company will repurchase up to 1,350,000 shares, representing 1.44% of its shares, for a total cost of ¥100 million. The repurchase program will commence on May 24, 2012, and will run till March 25, 2013.