Press Releases

To motivate Directors (excluding External Directors) to strive harder to accomplish their performance goals and help them share the benefits and risks of stock price fluctuations with shareholders, the Company submitted a proposal for the introduction of the Plan to the 80th Ordinary General Meeting of Shareholders held on June 29, 2016. The proposal was approved as originally proposed. A meeting of the Board of Directors held on May 28, 2021 resolved to continue the Plan, and the Plan has continued up to now.
For an overview of the Plan before the changes, please refer to the Company's Announcement of the Introduction of a Performance-linked Stock Compensation Plan for Directors dated April 28, 2016 (the English version was published on May 6, 2016).
Because the Company has become a company with a nominating committee, etc., the Company will change the Plan to make it suitable for a new organization and roles and to unify the stock compensation plan for the officers of the Company and for certain officers of the major domestic Group companies.

(1) Overview of the Plan
The Plan is a stock compensation plan in which a trust ("the Trust") established and paid for by the Company acquires shares of the Company and delivers shares to each person eligible for the Plan after the changes described in (2) ("the Directors, etc."), based on the number of points that the Company grants to each Director, etc.

(2) Changes to the Plan
The changes to the Plan are as described below.

A transfer restriction agreement ("the Transfer Restriction Agreement") that includes the provisions below shall be concluded between the Company and the Directors, etc. about the shares of the Company that will be delivered to Directors, etc. in proportion to the points to be granted after the resolution is passed at the Compensation Committee meeting held on June 29, 2023. (Each Director, etc. shall receive shares of the Company only if they conclude the Transfer Restriction Agreement.)

1) The Directors, etc. shall not transfer any shares of the Company that are delivered to them under the Plan, establish any security interest on the shares, or otherwise dispose of any of the shares from the day when they receive the shares to the day of retirement.
2) The Company shall acquire the shares delivered under the Plan without consideration if certain events occur.
3) Conditions for removal of transfer restrictions predetermined by the Compensation Committee, etc.

If shares of the Company are delivered to any Directors, etc. based on their acquired points after their retirement for some reason, shares of the Company shall be delivered without any transfer restrictions.