Nippon Dry-Chemical Co., Ltd. (TSE:1909) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 1.39% of the outstanding shares for ¥120 million. The purpose of the program is to strengthen shareholder returns, enhance capital efficiency and implement a flexible capital policy in response to changes in the business environment. The program will run until March 10, 2017. As of September 30, 2016, the company had 3,590,594 shares outstanding and 312 shares in treasury.