The Board of Directors of Hisaka Works Ltd. (TSE:6247) authorized a share repurchase program on November 2, 2012. Under the program, the company will repurchase up to 1,000,000 common shares, representing 3.14% of its outstanding shares, for ¥1 billion. The repurchases will be made based on the stipulations of paragraph 3, Article 165, of Japan's Corporate Law, as interpreted in lieu of Article 156 of Japan's Corporate Law. The company is repurchasing its shares to improve capital efficiency and enable the execution of a flexible capital policy which supports changes in the business environment. The program will run from November 5, 2012 to March 29, 2013. As of September 30, 2012, the company has 31,868,951 shares outstanding and holds 863,849 shares in treasury. As of November 30, 2012, the company has repurchased 790,000 shares, representing 2.48% for ¥531.93 million.

Hisaka Works Ltd. completed its share repurchase program on December 7, 2012. Under the plan, the company repurchased 1,000,000 common shares, representing 3.14% of its outstanding shares, for ¥686.23 million.