Odawara Engineering Co., Ltd. (JASDAQ:6149) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 10.25% of its share capital at a price of ¥617 per share for ¥370.2 million. The shares will be repurchased on the Tokyo Stock Exchange, Inc. through the off-auction own share repurchase mode.

The purpose of the program is to enable the company to implement a flexible capital policy corresponding to the changes in the business environment. The share price is based on the closing price of September 18, 2014. As of August 31, 2014, the company had 5,853,373 shares outstanding excluding treasury shares and had 539,363 shares in treasury.