Iino Kaiun Kaisha, Ltd. (TSE:9119) announces a share repurchase program. Under the program, the company will repurchase up to 5,160,000 shares, representing 4.65% of its share capital, at ¥619 per share for ¥3,200 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy which responds to changes in the business environment. As of December 31, 2017, the company had 110,968,345 shares outstanding (excluding treasury shares) and 107,635 shares in treasury.