Kobayashi Pharmaceutical Co., Ltd. (TSE:4967) announces a share repurchase program. Under the program, the company will repurchase 1,300,000 shares, representing 1.64% of the outstanding shares for ¥8,000 million. The purpose of the program is to improve shareholder profits and to implement a flexible capital policy in response to changes in the business environment. The program will run until August 31, 2019. As of December 31, 2018, the company had 79,072,663 shares outstanding and 2,977,337 shares in treasury.