Nippon Ski Resort Development Co.,Ltd. (TSE:6040) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 0.62% of the outstanding shares for ¥100 million. The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy that can be used in M&As and alliances. The program will run until June 30, 2018. As of January 31, 2018, the company had 8,000,200 shares outstanding and 25,000 shares in treasury.