Toyo Denki Seizo K.K. (TSE:6505) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 5.29% of its share capital, at ¥1,597 per share for ¥798.5 million. The company will repurchase its shares in order to mitigate the impact of the cancellation of its alliance with Toyota Industries Corporation (TSE:6201) on the stock market, and to implement a capital policy which responds to changes in the market and the business environment. The company will purchase 420,000 of its shares from Toyota Industries Corporation (TSE:6201). As of September 30, 2018, the company had 9,443,003 shares outstanding (excluding treasury shares) and 291,997 shares in treasury.