User Local, Inc. (TSE:3984) announces a share repurchase program. Under the program, the company will repurchase 150,000 shares, representing 0.94% of the outstanding shares for ¥300 million. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment, to improve capital efficiency, and to increase shareholder returns, The repurchased shares will be secured as treasury stock to be issued to employees as restricted stock compensation plans.

The program will run until January 31, 2022. As of September 30, 2022, the company had 16,022,401 shares outstanding and 30,899 shares in treasury.