Hokuetsu Corporation (TSE:3865) announces a share repurchase program. Under the program, the company will repurchase 23,000,000 shares, representing 12.13% of its share capital, for ¥14,000 million. The company will repurchase its shares in order to improve capital efficiency, strengthen shareholder returns, and mitigate the temporary impact on supply and demand of its shares following to the sale of its common shares. The program will run until February 27, 2020. As of January 31, 2020, the company had 189,611,567 shares outstanding (excluding treasury shares) and 19,652,247 shares in treasury.