The Yamagata Bank, Ltd. (TSE:8344) announces a share repurchase program. Under the program, the company will repurchase up to 7,000,000 shares, representing 4.11% of outstanding shares (treasury shares excluded) for a total of ¥3,500 million. The purpose of repurchase is to improve capital efficiency and shareholder return.

The repurchase program will be valid till September 22, 2014. As of March 28, 2014, the company has 170,463,833 outstanding shares (treasury shares excluded) and 1,536,167 shares were held under treasury.