Tokyo Steel Manufacturing Co., Ltd. (TSE:5423) announces a share repurchase program. The company will repurchase 5,150,000 shares, representing 3.46% of the shares outstanding excluding treasury shares, for a total of ¥3,500 million. The purpose of the program is to implement a flexible capital policy through the acquisition of own shares.

The shares will be repurchased until March 31, 2016. As of December 31, 2015, the company had 148,973,522 shares outstanding excluding treasury shares and had 6,090,727 shares in treasury.