Kuwazawa Trading Co. Ltd. (SPSE:8104) announces a share repurchase program. Under the program, the company will repurchase 180,000 shares, representing 2.27% of its share capital for ¥127.08 million. The company is repurchasing its shares through the Sapporo Securities Exchange off-floor treasury share trading. The company will repurchase its shares in order to enable the implementation of a flexible capital policy which responds to changes in the business environment. The program will be valid until May 18, 2017. As of May 10, 2017, the company had 7,946,458 shares outstanding (excluding treasury shares) and 400,790 shares in treasury.