The Board of Directors of TYK Corporation (TSE:5363) authorized a share repurchase program on August 22, 2012. Under the program, the company will repurchase up to 300,000 shares, representing 0.67% of the total outstanding shares (excluding treasury shares) for ¥51 million. The repurchases will be done based on Article 165, section 3, in lieu of Article 156 of the Company Act. The reason behind the buyback is to improve capital efficiency and to prepare for future flexibility as a capital strategy. The program will commence on August 23, 2012 and will end on August 31, 2012. As of July 31, 2012, the company has 44,938,750 shares as total outstanding shares (excluding treasury shares) and 538,250 shares as treasury shares.

On August 22, 2012, the company announced that it will repurchase 300,000 shares, representing 0.67% of the total outstanding shares (excluding treasury shares), at a price of ¥156 per share, for a total cost of ¥46.8 million. The repurchases will be done at the Tokyo Stock Exchange off-auction own shares on August 23, 2012. Due to market conditions, there is a possibility that the number of shares could not be acquired in part or in full.