Nagoya Electric Works Co., Ltd. (NSE:6797) announces a share repurchase program. Under the program, the company will repurchase up to 70,000 shares, representing 1.16% of its total shares outstanding excluding treasury shares, for a total of ¥30 million. The company will make use of Off-Floor Transaction System (N-NET3) to make repurchases.

The purpose of the repurchase program is to implement a flexible capital policy corresponding to changes in the business environment. The repurchases will be in accordance with article 156 in lieu of article 165, section 3 of the Companies Act. The share repurchase program is valid until December 17, 2014.

As of November 14, 2014, the company has 6,025,910 shares outstanding excluding treasury shares and has 6,090 shares in treasury.