The Board of Directors of Hokuetsu Metal Co. Ltd. (TSE:5446) authorized a share repurchase program on December 19, 2012. Under the program, the company will repurchase up to 400,000 common shares, representing 2.01% of its issued share capital (excluding treasury shares), at a fixed price of ¥159 per share, for a total cost of ¥63.6 million.

The repurchases will be done at the Tokyo Stock Exchange Off-Auction Own Shares Repurchase Trading (ToSTNeT-3). The purpose of the repurchase program is to enable the implementation of a flexible capital policy corresponding to changes in the business environment. Repurchases will be made on December 20, 2012.

As of December 19, 2012, the company has 19,857,293 shares outstanding (treasury shares excluded) and 112,707 shares held in treasury.