PIOLAX, Inc. (TSE:5988) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 4.04% of its share capital, for ¥2,000 million. The company will repurchase its shares in order to implement a flexible capital policy, and as part of shareholder returns. The program will run until March 19, 2020. As of September 30, 2019, the company had 37,119,414 shares outstanding (excluding treasury shares) and 2,134,686 shares in treasury.