Studio Alice Co., Ltd. (TSE:2305) announces a share repurchase program. Under the program, the company will repurchase up to 195,000 shares, representing 1.14% of the total number of outstanding shares (treasury shares excluded) at a price of ¥1,366 per share, for a total of ¥266.37 million. Shares will be repurchased through Off-auction Own Share Repurchase trading method on Tokyo Stock Exchange.

The repurchases will be made in order to enable the implementation of a flexible capital policy corresponding to changes in the business environment. As on December 31, 2013, the company had 17,179,392 outstanding shares (treasury shares excluded) and 6,258 shares were held under treasury.