Introduction of a Share Benefit Trust for an Employee Stock Ownership Association

「The total dividends approved at the annual general meeting of shareholders held on 28 June 2022 do not include dividends on the company's shares held by Trust E, as the Employee Stock Ownership ESOP Trust had reached the end of its trust period and held 0 shares of the company's stock, so no dividends arose on those shares.」

「The employee incentive plan Employee Stock Ownership ESOP Trust was introduced in February 2017 to enhance employee benefits and improve corporate value, but ended in March 2022 upon expiration of the trust period.」

「The company's shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. The carrying amount and number of these treasury shares were ¥22,409 thousand and 68,100 shares (after the stock split) at the end of the previous fiscal year, and ¥16,585 thousand and 50,400 shares in the third-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The company's shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. The carrying amount and number of these treasury shares were ¥22,409 thousand and 68,100 shares (after the stock split) at the end of the previous fiscal year, and ¥19,217 thousand and 58,400 shares in the second-quarter accounting period.」

「The company's shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. The carrying amount and number of these treasury shares were ¥22,409 thousand and 22,700 shares at the end of the previous fiscal year, and ¥21,620 thousand and 21,900 shares in the first-quarter accounting period.」

「The carrying amount and number of these treasury shares were ¥34,058 thousand and 34,500 shares at the end of the previous fiscal year, and 37,900 shares at the end of the current fiscal year.」

「The carrying amount and number of these treasury shares were ¥34,058 thousand and 34,500 shares at the end of the previous fiscal year, and ¥23,298 thousand and 23,600 shares in the third-quarter accounting period.」

「The carrying amount and number of these treasury shares were ¥34,058 thousand and 34,500 shares at the end of the previous fiscal year, and ¥26,753 thousand and 27,100 shares in the second-quarter accounting period.」

「The carrying amount and number of these treasury shares were ¥34,058 thousand and 34,500 shares at the end of the previous fiscal year, and ¥30,899 thousand and 31,300 shares in the first-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The company's shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. The carrying amount and number of these treasury shares were ¥57,850 thousand and 58,600 shares at the end of the previous fiscal year, and 37,900 shares at the end of the current fiscal year.」

「The carrying amount and number of these treasury shares were ¥57,850 thousand and 58,600 shares at the end of the previous fiscal year, and ¥37,415 thousand and 37,900 shares in the third-quarter accounting period.」

「The carrying amount and number of these treasury shares were ¥57,850 thousand and 58,600 shares at the end of the previous fiscal year, and ¥45,214 thousand and 45,800 shares in the second-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The company's shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. The carrying amount and number of these treasury shares were ¥57,850 thousand and 58,600 shares at the end of the previous fiscal year, and ¥54,099 thousand and 54,800 shares in the first-quarter accounting period.」

「This plan is an employee benefit plan developed with reference to the Employee Stock Ownership Plan (ESOP), an employee compensation plan widely used in the United States as part of employee incentive plans, and the Report on New Schemes for Holding Treasury Stock published by the Ministry of Economy, Trade and Industry on 17 November 2008. Under the plan, the company enters into a Share Delivery Trust (Employee Stock Ownership Plan Disposal-Type) Agreement, with the company as settlor and Mizuho Trust & Banking Co., Ltd. as trustee.」

「The carrying amount and number of these treasury shares were ¥78,582 thousand and 79,600 shares at the end of the previous fiscal year, and ¥61,602 thousand and 62,400 shares in the third-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The carrying amount and number of these treasury shares were ¥78,582 thousand and 796 thousand shares at the end of the previous fiscal year, and ¥70,289 thousand and 712 thousand shares in the second-quarter accounting period.」

「The carrying amount and number of these treasury shares were ¥78,582 thousand and 796 thousand shares at the end of the previous fiscal year, and ¥73,251 thousand and 742 thousand shares in the first-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The carrying amount and number of these treasury shares were ¥68,289 thousand and 673 thousand shares at the end of the previous fiscal year, and ¥80,556 thousand and 816 thousand shares in the third-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares. The carrying amount and number of these treasury shares were ¥68,289 thousand and 673 thousand shares at the end of the previous fiscal year, and ¥85,295 thousand and 864 thousand shares in the second-quarter accounting period.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares.」

「Trust E will acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next several years, and will sell the company's shares when the employee stock ownership plan acquires shares.」

「The purpose of this plan is to enhance employee benefits and improve corporate value by providing a stable supply of the company's shares to the employee stock ownership plan and distributing to employees the income generated from managing the trust assets, thereby increasing employees' awareness of the share price and their motivation to work. Trust E is expected to acquire in advance, in a single transaction, the company's shares that the employee stock ownership plan is expected to acquire over the next 5 years, and will sell the company's shares when the employee stock ownership plan acquires shares.」