The Board of Directors of ADTEC Corporation (JASDAQ:6840) authorized a share repurchase program on September 18, 2012. Under the program, the company will repurchase up to 1,600,000 shares, representing 16.14% of its outstanding share capital, at a price of ¥77 per share, for a total cost of ¥123.2 million. Out of the total shares to be repurchased, 1,467,000 common shares, representing 14.79% will be repurchased from MCJ Co., Ltd. Repurchases will be made in the J-NET market of Osaka Securities Exchange. The purpose of the repurchase program is to enable the implementation of a flexible capital policy which supports changes in the business environment in the future. The buyback will be executed upon receiving the equivalent amount of purchase orders. Repurchases will be made on September 19, 2012. As of September 18, 2012, the company has 9,916,084 shares outstanding and 350,636 shares held in treasury.

ADTEC Corporation's share repurchase program expired on September 19, 2012. Under the plan, the company has repurchased 1,467,000 shares, representing 14.79% at a price of ¥77 per share, for a total cost of ¥112.96 million.