Nippon Ski Resort Development Co.,Ltd. (TSE:6040) announces a share repurchase program. Under the program, the company will repurchase up to 25,000 shares, representing 0.31% of its share capital, for ¥50 million. The company will repurchase its shares in order to improve capital efficiency, and implement a flexible capital policy with a view of using it in M&A and alliances. The share repurchase program will run until December 20, 2017. As of July 31, 2017, the company had 8,000,200 shares outstanding (excluding treasury shares) and 0 shares in treasury.