The Board of Directors of Yahoo Japan Corporation (TSE:4689) authorized a share repurchase program on January 29, 2013. Under the program, the company will repurchase up to 800,000 shares, representing 1.38% of its outstanding shares for ¥20 billion. The shares will be repurchased on the market through trust banking company.

The shares repurchased will be cancelled. The purpose of the program is to increase the capital efficiency and to return profits to the shareholders. The shares will be repurchased pursuant to Article 165 paragraph 3 of Japan's Corporate Law.

The program will commence from February 1, 2013 and will continue till March 15, 2013. As of December 31, 2012, the company has 58,016,095 outstanding shares excluding treasury and 180,433 shares in treasury.