The Board of Directors of Forval Corporation (JASDAQ:8275) authorized a share repurchase program on January 9, 2013. Under the program, the company will repurchase up to 300,000 shares, representing 2.21% of its issued share capital, for a total cost of up to ¥150 million. The purpose of the repurchase program is implementation of a capital policy which supports changes in the business environment, and shareholder returns.

The plan will commence on January 10, 2013 and will continue until March 22, 2013. As of September 30, 2012, the company has 13,563,164 shares outstanding and 303,147 shares held in treasury.