Toho Co. Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 0.54% of its outstanding shares excluding treasury shares for ¥3,000 million.

The purpose of the program is to improve the capital efficiency and to aim for the implementation of a flexible capital policy which responds to the changes in the business environment. The repurchases will be made pursuant to the stipulations of paragraph 3, Article 165, of Japan's Corporate Law. The program will be valid till January 13, 2016.

As of December 31, 2014, the company had 185,240,100 outstanding shares excluding treasury shares and 3,750,533 shares in treasury.