The Board of Directors of Sado Steam Ship Co., Ltd. (JASDAQ:9176) authorized a share repurchase program on December 21, 2012. Under the program, the company will repurchase up to 15,500 shares, representing 0.11% of its outstanding share capital, for a maximum total cost of ¥5.1 million. The shares will be repurchased from Ryotsu Minami Futo Building K.K., at a price based on the closing value of the company’s shares in the Osaka Securities Exchange on December 21, 2012 ... and if the transaction is not accomplished on December 21, 2012, then on the basis of the closing value on the day immediately preceding it. Repurchases will be made as a direct transaction in accordance with the provisions of article 135, section 3 of the companies Act. Repurchases will be made on December 21, 2012. As of June 30, 2012, the company has 13,967,617 shares outstanding and 1,785 shares in treasury.
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