The Board of Directors of Ukai Co., Ltd (JASDAQ:7621) authorized a share repurchase program on May 17, 2013. Under the program, the company will repurchase up to 370,000 shares, representing 7.33% of its outstanding share capital, at a price of ¥1,961 per share, for a total cost of ¥725.57 million. Such shares will be repurchased in an off market over-the-counter transaction from Aoyama Zaisan Networks Company Limited (TSE:8929). In anticipation of the company's 50th year and the planning for drastic growth strategy for the next half century, the company has agreed to dissolve the capital tie-up with Aoyama Zaisan Networks Co., Ltd. The plan will commence on June 14, 2013, the time of the closing of the company's 31st Shareholders' Meeting and will expire on March 31, 2014. As of March 31, 2013, the company has 5,048,184 shares outstanding and 181,756 shares in treasury.

Ukai Co., Ltd's share repurchase program expired on July 23, 2013. Under the plan, the company has repurchased 369,134 shares, representing 7.31% at a price of ¥1,961 per share, for a total cost of ¥723.87 million.