Shikibo Ltd. (TSE:3109) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 2.68% of its share capital, for ¥500 million. The company will repurchase its shares in order to enhance shareholder returns and enable the implementation of a flexible capital policy which responds to changes in the business environment, by improving capital efficiency. The share repurchase program will run until March 30, 2018. As of December 31, 2017, the company had 11,183,197 shares outstanding (excluding treasury shares) and 927,632 shares in treasury.