Sharing Corporate and Shareholder Value over the Medium to Long Term Through Restricted Stock Compensation

「In accordance with resolutions of the Board of Directors meetings held on 28 June and 17 July 2019, we issued new shares as restricted stock compensation for the Company's directors, audit & supervisory board members and employees.」

「Accordingly, at a meeting of the board of directors held on 16 October 2019, the company resolved to grant aggregate monetary receivables of ¥12.24 million and, by issuing new shares, 9,000 common shares of the company to 74 employees who had forfeited their eligibility but had wished to receive an allocation and were unable to submit an application or take other required steps for unavoidable reasons, including being in a busy period at work. These employees are referred to below as the “Eligible Employees,” and the shares as the “Shares Covered by the Allocation.”」

「We resolved to issue and grant, to our employees, 53,500 common shares of the Company as restricted stock compensation, together with monetary claims totaling ¥70.2455 million, for the purpose of providing incentives to employees to achieve sustained growth in the corporate value of the Group and promoting greater value sharing with shareholders. These shares are hereinafter referred to as the "Shares to Be Allotted."」

「The plan is being introduced to provide the company’s directors and audit & supervisory board members with incentives to achieve sustained improvement in corporate and shareholder value over the medium to long term, while further promoting value sharing with shareholders.」