Worth reading
60In focus
Scored from 4 of 5 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
5600
SharesWording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of new shares as restricted stock compensation
Who receives how much5,600Shares
5,600 ordinary shares (new shares)
4 of the Company's directors, excluding outside directors3,200 shares
3 executive officers who do not concurrently serve as directors of the Company1,800 shares
1 employee of the Company600 shares
The height of each bar represents the proportion of shares received by each allottee. The thin line below represents the number of existing shares to which these shares are added.
¥1,932 per share
Total issue value
¥10,819,200
Amount of funds to be raised
Total amount of monetary claims: ¥10,819,200 (net proceeds not stated)
Total Stock-Based Compensation
Total monetary claims: ¥10,819,200. The annual cap on total compensation for eligible directors is ¥60 million.
Conditions on transfer restrictions
Restricted stock is stock awarded as compensation that cannot be sold during a specified period, with the restrictions lifted once the applicable conditions are met.
Transfer restriction period
24 July 2026 to 23 July 2076 (50 years)
Conditions for lifting transfer restrictions
Provided that the recipient continuously holds one of the following positions from 24 July 2026 through 23 July 2029: director, executive officer, executive officer who does not concurrently serve as a director, audit & supervisory board member, adviser, consultant or employee of the Company or one of its subsidiaries, or any equivalent position, all of the allocated shares will be released from the transfer restrictions upon expiry of the restriction period. If a recipient leaves office or retires during the restriction period due to expiry of the term of office, reaching retirement age or another legitimate reason, all of the shares will be released from the transfer restrictions immediately after the departure or retirement.
Reason for acquisition without consideration
If a recipient violates any law or regulation during the restriction period or becomes subject to any other specified event under the restricted stock allocation agreement, the Company will acquire all of the shares held by that recipient without consideration. The Company will also acquire without consideration any shares that remain subject to transfer restrictions when the restriction period expires or when the restrictions are lifted following a recipient's departure or retirement.
Categories and Number of Persons Covered
Category Directors of the Company (excluding outside directors) / Number of Employees 4 / Number of allocated shares 3,200 shares, Category The Company's executive officers who do not concurrently serve as directors / Number of Employees 3 / Number of allocated shares 1,800 shares, Category Employees of the Company / Number of Employees 1 / Number of allocated shares 600 shares
Intended allottee's holding policy
During the restriction period, the shares may not be transferred to any third party, pledged or otherwise disposed of in any way, and will be managed through a dedicated account. The restriction period runs from 24 July 2026 to 23 July 2076.
Payment date
24 July 2026
Basis for determining the amount to be paid
The closing price of the Company's ordinary shares on the Tokyo Stock Exchange Standard Market on 24 June 2026, the business day preceding the date of the Board of Directors' resolution, was ¥1,932. No discount or premium applies.
Procedures under the Corporate Code of Conduct
At the 21st Annual General Meeting of Shareholders held on 25 June 2025, approval was obtained for the compensation payable to eligible directors under this plan, the number of shares, the transfer restriction period and other matters. This issuance follows deliberation by the Compensation Committee.
Impact on Business Performance
No impact on business performance from this issuance of new shares is stated.
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of new shares as restricted stock compensation |
| Number of shares to be issued or disposed of | 5,600 ordinary shares (new shares) |
| Issue price and disposal price | ¥1,932 per share |
| Total issue value | ¥10,819,200 |
| Amount of funds to be raised | Total amount of monetary claims: ¥10,819,200 (net proceeds not stated) |
| Payment date | 24 July 2026 |
| Intended allottee | Name 4 of the Company's directors, excluding outside directors / Number of Shares 3,200 shares, Name 3 executive officers who do not concurrently serve as directors of the Company / Number of Shares 1,800 shares, Name 1 employee of the Company / Number of Shares 600 shares |
| Intended allottee's holding policy | During the restriction period, the shares may not be transferred to any third party, pledged or otherwise disposed of in any way, and will be managed through a dedicated account. The restriction period runs from 24 July 2026 to 23 July 2076. |
| Basis for determining the amount to be paid | The closing price of the Company's ordinary shares on the Tokyo Stock Exchange Standard Market on 24 June 2026, the business day preceding the date of the Board of Directors' resolution, was ¥1,932. No discount or premium applies. |
| Transfer restriction period | 24 July 2026 to 23 July 2076 (50 years) |
| Conditions for lifting transfer restrictions | Provided that the recipient continuously holds one of the following positions from 24 July 2026 through 23 July 2029: director, executive officer, executive officer who does not concurrently serve as a director, audit & supervisory board member, adviser, consultant or employee of the Company or one of its subsidiaries, or any equivalent position, all of the allocated shares will be released from the transfer restrictions upon expiry of the restriction period. If a recipient leaves office or retires during the restriction period due to expiry of the term of office, reaching retirement age or another legitimate reason, all of the shares will be released from the transfer restrictions immediately after the departure or retirement. |
| Reason for acquisition without consideration | If a recipient violates any law or regulation during the restriction period or becomes subject to any other specified event under the restricted stock allocation agreement, the Company will acquire all of the shares held by that recipient without consideration. The Company will also acquire without consideration any shares that remain subject to transfer restrictions when the restriction period expires or when the restrictions are lifted following a recipient's departure or retirement. |
| Categories and Number of Persons Covered | Category Directors of the Company (excluding outside directors) / Number of Employees 4 / Number of allocated shares 3,200 shares, Category The Company's executive officers who do not concurrently serve as directors / Number of Employees 3 / Number of allocated shares 1,800 shares, Category Employees of the Company / Number of Employees 1 / Number of allocated shares 600 shares |
| Total Stock-Based Compensation | Total monetary claims: ¥10,819,200. The annual cap on total compensation for eligible directors is ¥60 million. |
| Procedures under the Corporate Code of Conduct | At the 21st Annual General Meeting of Shareholders held on 25 June 2025, approval was obtained for the compensation payable to eligible directors under this plan, the number of shares, the transfer restriction period and other matters. This issuance follows deliberation by the Compensation Committee. |
| Impact on Business Performance | No impact on business performance from this issuance of new shares is stated. |
Items this document does not state (12)
Estimated issuance expensesSpecific use of fundsDilution RateTotal number of issued sharesExercise priceExercise periodNumber of Stock Acquisition RightsUnderwriter / lead underwriterOverallotmentStock Split RatioMost recent equity financingMajor shareholders after the offering
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To provide the eligible recipients with an incentive to sustainably increase the Company's corporate value and promote the sharing of value with shareholders over the medium to long term. This issuance is being made following deliberation by the Compensation Committee, taking into consideration the purpose of the plan, the Company's business performance, the scope of each recipient's responsibilities and other relevant factors, with the aim of further increasing motivation.
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