The Board of Directors of Nippon Telegraph and Telephone Corporation (TSE:9432) authorized a share repurchase program on May 10, 2013. Under the program, the company will repurchase up to 50,000,000 shares, representing 4.22% of the share outstanding. The repurchase will amount to ¥250 billion. The purpose of the repurchase program is to improve capital efficiency and enable the company to flexibly exercise its capital policy in response to the changing managerial environment. ... The repurchases will be pursuant to Article 156 of the Corporation Law of Japan, as applied pursuant to Paragraph 3, Article 165 of the Corporation Law. The repurchase program will commence on May 13, 2013, and will end on March 31, 2014. As of March 31, 2013, the company had 1,185,374,632 shares outstanding and had 137,822,603 shares in treasury.
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Nippon Telegraph and Telephone Corporation (TSE:9432) agreed to acquire a property located in Tokyo, Japan, for approximately ¥60 billion on February 28, 2013. The transaction is expected to close in March 2014.

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