Tokyo Energy & Systems Inc. (TSE:6788) announces a share repurchase program. Under the program, the company will repurchase up to 1,350,000 shares, representing 3.86% of its issued share capital for ¥1,328.4 million. The shares will be repurchased at the closing stock price of ¥984 per share as on February 1, 2016 on the Tokyo Stock Exchange off-floor treasury share trading (ToSTNeT-3).

The purpose of the program is to implement a flexible capital policy in response to the changes in the business environment. Repurchase will take place on February 2, 2016. As of December 31, 2015, the company had 34,962,470 outstanding shares excluding treasury shares and 2,299,282 shares in treasury.