The Board of Directors of The Toho Bank, Ltd. (TSE:8346) authorized a share repurchase program on May 14, 2013. Under the program, the company will repurchase up to 3,000,000 shares, representing 1.18% of the shares outstanding, for a total of ¥1 billion. Repurchases will be made through market purchase or by off-floor trading own shares purchase deal (ToSTNeT-3).

The purpose of the program is to improve stockholder value through profit reduction to stockholders. Repurchases will pursuant to in accordance with the provisions of Article 156 of the Companies Act be deemed to be replaced in accordance with the provisions of Article 165, Paragraph 3 of the same law. Repurchases will commence on May 15, 2013 and will end on July 31, 2013.

As of March 31, 2013, the company had 255,116,753 shares outstanding excluding treasury shares and had 383,247 shares in treasury.