Yomiuri Land Co. Ltd. (TSE:9671) announces a share repurchase program. Under the plan, the company will repurchase up to 550,000 shares, representing 0.71% of its issued share capital, for ¥280 million.

The company plans to use the off-hours treasury share trading (ToSTNeT-3) method, however, the concrete acquisition method including the date and acquisition price shall be left to the discretion of the Representative Director. The purpose of the plan is to enable the implementation of a flexible capital policy which responds to changes in the business environment. Repurchase will be pursuant to article 156 in lieu of article 165, section 3 of the Companies Act.

The plan will run till May 30, 2014. As of April 30, 2014, the company has 77,789,100 shares outstanding excluding treasury and 5,732,924 shares in treasury.