PROTO CORPORATION ("the Company") hereby announces that, at a meeting of its Board of Directors held on October 31, 2014, the Company has authorized the repurchase of shares of its common stock pursuant to Article 156 of the Corporation Law of Japan, as applied pursuant to Paragraph 3, Article 165 of the Corporation Law, as described below.
1. Reasons for Share Repurchases
To improve capital efficiency and enable the Company to flexibly exercise its capital policy in response to the changing managerial environment.
2.Details of Repurchases
Number of treasury stock (as of September 30, 2014)
Number of outstanding shares (excluding treasury stock)：20,445,110 shares
Number of treasury stock：494,890 shares