GMO internet group (TYO:9449) will repurchase up to 4.2 million shares for as much as 10 billion yen under a buyback program running from Nov. 26 to Feb. 12, according to a Tuesday filing on the Tokyo Stock Exchange.

The purchase, to be conducted on the Tokyo Stock Exchange, represents about 4% of shares outstanding.

The company said the buyback aligns with its shareholder returns policy, which targets returning half of profit to investors through dividends and share repurchases.

It has so far bought 17.4 million shares toward its long-term goal of acquiring about 38.4 million. Treasury shares stood at 6.8 million as of Nov. 25.