Data Applications Company Limited (JASDAQ:3848) announces a share repurchase program. Under the program, the company will repurchase up to 350,000 shares, representing 10.49% of its outstanding shares excluding treasury shares for ¥477.75 million. The shares will be repurchased at the closing stock price of ¥1,365 per share as on February 5, 2016 on the Tokyo Stock Exchange off-floor treasury share trading (ToSTNeT-3). The purpose of the program is to improve the shareholders' returns and capital efficiency, and to implement a flexible capital policy corresponding to the changes in the business environment. As of January 31, 2016, the company had 3,335,800 outstanding shares excluding treasury shares and 344,000 shares in treasury.

Under the program, INES Corporation (TSE:9742) participated in the program by selling of its 350,000 shares, representing 10.25% stake in Data Applications Company Limited.