Japan Pulp and Paper Company Limited (TSE:8032) announces a share repurchase program. Under the program, the company will repurchase 600,000 shares, representing 4.05% of the outstanding shares, at ¥4,145 per share for ¥2,487 million. The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment. As of November 22, 2017, the company had 17,798,351 shares outstanding and 223,200 shares in treasury.