The Board of Directors of Azuma Shipping Co., Ltd. (TSE:9380) authorized a share repurchase program on December 19, 2011. Under the program, the company will repurchase up to 500,000 shares representing 1.73% of total outstanding shares, excluding treasury shares. The repurchase amounts to ¥125 million. The repurchases will be based on the provision of articles of incorporation from the regulations of Article 165 paragraph 2 of Japan's Corporate Law. The repurchase program will enable the company to implement a flexible capital policy corresponding to changes in the business environment. The repurchases will commence on December 20, 2011, and will end on November 30, 2012. As of November 30, 2011, the company has 28,912,400 shares outstanding, excluding treasury shares and has 10,600 shares in treasury.

Azuma Shipping Co., Ltd.'s share repurchase program expired on November 30, 2012.