Nippon Felt Co., Ltd. (TSE:3512) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 1.54% of its outstanding shares excluding treasury shares for ¥200 million. The purpose of the program is to improve the capital efficiency and shareholders’ returns. The repurchases will be in accordance with Article 459 Paragraph 1 of the Companies Act. The program is valid until August 31, 2016. As of May 13, 2016, the company had 19,542,079 outstanding shares excluding treasury and had 300,010 shares in treasury.