Mystar Engineering Corp. (TSE:4695) announces a share repurchase program. Under the program, the company will repurchase up to 406,000 shares, representing 4.79% of its issued share capital excluding treasury shares, at a price of ¥582 per share for a total of ¥236.29 million.

The company will repurchase its shares through the Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the repurchase program is to implement a flexible capital policy corresponding to changes in the business environment. As of January 31, 2016, the company had 8,473,681 shares outstanding excluding treasury shares and had 651,319 shares in treasury.