Koyosha Inc. (TSE:7946) announces a share repurchase program. Under the program, the company will repurchase 250,000 shares, representing 18.3% of the outstanding shares, at ¥1,562 per share for ¥390.5 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. As of May 31, 2018, the company had 1,366,280 shares outstanding and 33,820 shares in treasury.