Hagiwara Electric Co., Ltd. (TSE:7467) announces a share repurchase program. Under the program, the company will repurchase up to 180,000 shares, representing 2.17% of its total shares outstanding excluding treasury shares, for a total of ¥360 million. The purpose of the repurchase program is to enhance capital efficiency and to implement a flexible capital policy corresponding to changes in the business environment. The share repurchase program is valid until September 30, 2016. As of March 31, 2016, the company had 8,305,479 shares outstanding excluding treasury shares and had 12,521 shares in treasury.