Medical Net, Inc. (TSE:3645) announces a share repurchase program. Under the program, the company will repurchase 850,000 shares, representing 15.78% of the outstanding shares, at ¥571 per share for ¥485.35 million. The company will repurchase 807,600 shares, representing 14.99% of the outstanding shares from M3, Inc. (TSE:2413).

The purpose of the program is to enhance capital efficiency. As of June 30, 2019, the company had 5,386,385 shares outstanding and 115 shares in treasury.