The Board of Directors of Gokurakuyu Co., Ltd. (JASDAQ:2340) authorized a share repurchase program on February 15, 2013. Under the program, the company will repurchase up to 1,000,000 shares, representing 9.44% of the total number of outstanding shares. The repurchase will amount to ¥300 million.

The repurchases will be in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The purpose of the program is to pursue a dynamic capital strategy responsive to changes in the business world. The repurchases will commence on February 15, 2013, and will end on August 15, 2013.

As of February 15, 2013, the company has 10,591,325 shares outstanding excluding treasury shares and has 937,675 shares in treasury.