The Board of Directors of Nichiryoku Co. Ltd. (JASDAQ:7578) authorized a share repurchase program on July 25, 2012. Under the plan, the company will repurchase up to 300,000 common shares, representing 2.38% of the total outstanding shares (excluding treasury shares), for ¥80 million. The buyback is based on the provision of articles of incorporation from the regulations of Article 165 paragraph 2 of Japan's Corporate Law. The purpose of the share buyback plan is to enable the implementation of a flexible capital policy corresponding to changes in the business environment. The repurchases will commence on August 1, 2012 and will end on January 31, 2013. As of July 25, 2012, the company has 12,630,928 shares (excluding treasury shares) in issue and 1,110,086 shares in treasury.

Nichiryoku Co. Ltd.'s share repurchase program expired on January 31, 2013. Under the program, the company has repurchased 132,000 shares, representing 1.04% for ¥27.4 million.