The Board of Directors of KFC Ltd. (TSE:3420) authorized a share repurchase program on June 21, 2013. Under the program, the company will repurchase up to 300,000 shares, representing 4.07% of the total outstanding shares excluding treasury shares. The repurchase will amount to ¥195 million.

The purpose of the program is to enable the company to implement a flexible capital policy corresponding to the changes in the business environment. The repurchases will be based on the provisions of the Companies Act Article 156 as applied in lieu of Article 165, Section 3 of the same law. The repurchases will commence on June 24, 2013, and will be valid until the day just before the next Annual Shareholders' Meeting will be held.

As of June 21, 2013, the company has 7,370,956 shares outstanding excluding treasury shares and has 7,094 shares in treasury.