The Board of Directors of Chiyoda Co. Ltd. (TSE:8185) authorized a share repurchase program on January 9, 2013. Under the program, the company will repurchase up to 250,000 shares, representing 0.63% of its issued share capital, for a total cost of up to ¥500 million.

The purpose of the repurchase program is to improve shareholder returns and capital efficiency. The plan will commence on January 10, 2013 and will continue until February 28, 2013. As of November 30, 2012, the company has 39,720,071 shares outstanding and 1,889,925 shares held in treasury.