The Board of Directors of Japan Power Fastening Co., Ltd. (TSE:5950) authorized a share repurchase program on May 9, 2013. Under the program, the company will repurchase up to 300,000 shares, representing 1.75% of its issued share capital, for a total cost of up to ¥54 million. The purpose of the repurchase program is to enable the implementation of a flexible capital policy in response to changes in the business environment.

Shares will be repurchased based on the provisions of the Companies Act Article 156 as applied in lieu of Article 165, Section 3 of the same law. The plan will commence on May 13, 2013 and will continue until December 13, 2013. As of April 30, 2013, the company has 17,130,432 shares outstanding and 1,558,108 shares held in treasury.