Aichi Electric Co., Ltd. (NSE:6623) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 1.56% of its share capital, at ¥2,789 per share for ¥418.35 million in total. The company is repurchasing its shares through the Nagoya Stock Exchange off-floor treasury share trading (N-NET3). The company will repurchase its shares in order to improve capital efficiency, implement shareholder returns, and a flexible capital policy which responds to changes in the business environment. As of January 31, 2017, the company had 9,626,738 shares outstanding (excluding treasury shares) and 23,674 shares in treasury.