User Local, Inc. (TSE:3984) announces a share repurchase program. Under the program, the company will repurchase up to 30,000 shares, representing 0.81% of its share capital, for ¥150 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, improve capital efficiency, and aim for shareholder returns. The share repurchase program will run until June 21, 2019. As of April 30, 2019, the company had 3,715,241 shares outstanding (excluding treasury shares) and 1,059 shares in treasury.