Nippon Ski Resort Development Co.,Ltd. (TSE:6040) announces a share repurchase program. Under the program, the company will repurchase 400,000 shares, representing 2.5% of its share capital, for ¥270 million. The company will repurchase its shares in order to improve capital efficiency, and implement a flexible capital policy with a view to utilizing in M&A and alliances. The program will run until March 31, 2020. As of January 31, 2020, the company had 16,000,400 shares outstanding (excluding treasury shares) and 120,200 shares in treasury.