The Board of Directors of Kan-Nanmaru Corp. (JASDAQ:7585) authorized a share repurchase program on November 13, 2012. Under the program, the company will repurchase up to 550,000 shares, representing 12.76% of its issued share capital (excluding treasury shares), for a total cost of ¥660 million.

The repurchases will be done in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The purpose of the repurchase program is to conduct a flexible capital policy in compliance with changes in business environment. The plan will commence on November 14, 2012 and end on November 22, 2012.

As of October 31, 2012, the company has 4,312,016 shares outstanding (treasury shares excluded) and 39,292 shares held in treasury.