Pro-Ship Incorporated (TSE:3763) announces a share repurchase program. Under the program, the company will repurchase 220,000 shares, representing 2.93% of the outstanding shares, at ¥1,486 per share for ¥326.92 million. Shares will be repurchased through the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment. As of January 30, 2017, the company had 7,515,600 shares outstanding and 666 shares in treasury.