Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
0.44
Dilution rate (as a percentage of total shares issued)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
Disposal of treasury shares as stock compensation
発行・処分する株式数192,700Shares
192,700 common shares (treasury shares)
Intended allottee
The Master Trust Bank of Japan, Ltd. (Executive Compensation BIP Trust Account)
¥2,905 per share
Total issue value
¥559,793,500
発行済株式総数
0.44% (as a percentage of total shares issued); 0.45% (as a percentage of total voting rights)
The dilution rate shows what proportion the newly issued shares represent of the existing shares. The higher the proportion, the more the value and voting rights per share are diluted.
Stock Split RatioA 1-for-2 stock split, effective 1 April 2026
Categories and Number of Persons Covered
Directors and executive officers (excluding outside directors and non-residents of Japan). The number of people and share allocations by category are Not disclosed.
Intended allottee's holding policy
The shares allocated through this disposal of treasury shares will be delivered to directors and others in accordance with the share delivery rules. The shares are not expected to enter the stock market all at once.
Payment date
25 August 2026
Basis for determining the amount to be paid
The closing price of the Company's shares on the Tokyo Stock Exchange on 5 August 2026 was ¥2,905. This was the market price immediately before the Board of Directors' resolution, and was determined to be highly objective and reasonable. No discount or premium rate is stated.
Procedures under the Corporate Code of Conduct
At the 61st Annual General Meeting of Shareholders held on 25 June 2026, shareholders approved the continuation and partial revision of the executive compensation BIP trust program.
| Item | Details |
|---|---|
| Type of issuance or disposal | Disposal of treasury shares as stock compensation |
| Number of shares to be issued or disposed of | 192,700 common shares (treasury shares) |
| Issue price and disposal price | ¥2,905 per share |
| Total issue value | ¥559,793,500 |
| Payment date | 25 August 2026 |
| Intended allottee | The Master Trust Bank of Japan, Ltd. (Executive Compensation BIP Trust Account) |
| Intended allottee's holding policy | The shares allocated through this disposal of treasury shares will be delivered to directors and others in accordance with the share delivery rules. The shares are not expected to enter the stock market all at once. |
| Dilution Rate | 0.44% (as a percentage of total shares issued); 0.45% (as a percentage of total voting rights) |
| Total number of issued shares | 44,000,000 shares (after the stock split effective 1 April 2026) → 44,000,000 shares (the total number of shares issued will not increase after the disposal of treasury shares)（0％） |
| Basis for determining the amount to be paid | The closing price of the Company's shares on the Tokyo Stock Exchange on 5 August 2026 was ¥2,905. This was the market price immediately before the Board of Directors' resolution, and was determined to be highly objective and reasonable. No discount or premium rate is stated. |
| Categories and Number of Persons Covered | Directors and executive officers (excluding outside directors and non-residents of Japan). The number of people and share allocations by category are Not disclosed. |
| Stock Split Ratio | A 1-for-2 stock split, effective 1 April 2026 |
| Procedures under the Corporate Code of Conduct | At the 61st Annual General Meeting of Shareholders held on 25 June 2026, shareholders approved the continuation and partial revision of the executive compensation BIP trust program. |
Items this document does not state (15)
Amount of funds to be raisedEstimated issuance expensesSpecific use of fundsExercise priceExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentMost recent equity financingMajor shareholders after the offeringImpact on Business Performance
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 clarify the linkage between compensation for directors and others and the Company's share value, and to strengthen their awareness of contributing to the achievement of performance targets under the medium-term management plan and to the enhancement of corporate value over the medium to long term. The treasury shares will also be disposed of to the trust account in connection with the extension of the BIP trust period.
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