The Board of Directors of Paltek Corp. (JASDAQ:7587) authorized a share repurchase program on January 7, 2013. Under the program, the company will repurchase up to 10,000 shares, representing 0.08% of its outstanding share capital, at a price of ¥400 per share, for a total of ¥4 million.

The company will make the purchase consignment in the Off-Auction Own Share Repurchase Trading at the J-Net market of the Osaka Securities Exchange. The repurchase program will be in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The purpose of the program is to pursue a dynamic capital strategy responsive to changes in the business world.

The repurchase will take place on January 8, 2013. As of January 7, 2013, the company has 11,428,982 shares outstanding excluding treasury shares and has 420,917 shares in treasury.