User Local, Inc. (TSE:3984) announces a share repurchase program. Under the program, the company will repurchase 28,000 shares, representing 0.36% of the outstanding shares for ¥100 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, to enhance capital efficiency, improve shareholder returns, and to introduce a transfer-restricted stock grant system to employees as an incentive for sustainable enhancement of corporate value. The program will run until June 24, 2020. As of April 30, 2020, the company had 7,769,218 shares outstanding and 56,882 shares in treasury.