The Chikuho Bank, Ltd. (FKSE:8398) announces a share repurchase program. Under the program, the company will repurchase up to 350,000 shares, representing 0.56% of its total shares outstanding excluding treasury shares, for a total of ¥110 million. The company will make market purchase in the Off-Auction Own Share Repurchase Trading.

The purpose of the repurchase program is to carry out stock options as stock-based compensation to directors excluding external directors and to implement a flexible capital policy corresponding to changes in the business environment. The repurchases will be in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The share repurchase program is valid until April 30, 2015.

As of October 31, 2014, the company had 62,432,559 shares outstanding excluding treasury shares and had 57,641 shares in treasury.