Pilot Corporation (TSE:7846) announces a share repurchase program. Under the program, the company will repurchase up to 7,620,000 shares of its common stock, representing 16.28% of its outstanding shares for ¥34,975.8 million. The shares will be repurchased at a price of ¥4,590 per share. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. As of December 31, 2016, the company had 46,814,400 shares outstanding and 942 shares in treasury.