JAPAN MATERIAL Co., Ltd. (TSE:6055) announces a share repurchase program. Under the program, the company will repurchase up to 60,000 shares, representing 0.34% of the shares outstanding excluding treasury shares, at a price of ¥2,227 per share, for a total of ¥133.62 million. The company will make purchase orders through the Off Auction Own Share Repurchase Trading system (ToSTNeT-3) of the Tokyo Stock Exchange.

The purpose behind the program is to implement a flexible capital policy corresponding to changes in the business environment. Repurchases will be in accordance with article 156, section 1 in lieu of article 165, section 3 of the Companies Act. As of November 17, 2015, the company had 17,518,923 shares outstanding excluding treasury shares and had 5,997 shares in treasury.