Tobila Systems Inc. (TSE:4441) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 1.89% of its issued share capital (excluding treasury stock), for a total purchase price of ¥200 million. The shares will be repurchased at ¥940 per share.

The purpose of the program is to use such shares to grant restricted stock to directors, executive officers, and employees of the company and to provide for a flexible capital management policy in response to changes in the business environment. The program is valid till December 11, 2023. As of October 31, 2023, the company had 10,558,250 shares (excluding treasury stock) and 71,350 shares in treasury.