SAIBO Co., Ltd. (TSE:3123) announces a share repurchase program. Under the program, the company will repurchase up to 140,000 shares, representing 1.02% of its outstanding shares excluding treasury shares for ¥66.78 million. The shares will be repurchased at the closing stock price of ¥477 per share as on March 17, 2016 in the Tokyo Stock Exchange.

The company will repurchase the shares from Saitamakogyo Corporation through a negotiated transaction. The purpose of the program is to acquire company common shares held by a subsidiary. The program will be valid until March 23, 2016.

As of March 18, 2016, the company had 13,722,164 outstanding shares excluding treasury shares and 277,836 shares in treasury.