Maruo Calcium Co., Ltd. (TSE:4102) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 2.22% of the outstanding shares for ¥85 million. The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment. As of September 30, 2017, the company had 2,252,092 shares outstanding and 89,908 shares in treasury.