Chikaranomoto Holdings Ends Equity Trust Program, Plans Share Cancellation

TOKYO, Jul 15 (Pulse News Wire) – Chikaranomoto Holdings CO.,LTD. (3561.T) decided to terminate its equity trust program for executives effective from March 2024.

The board also resolved to acquire and cancel shares without charge based on the remaining trust assets. Under the terminated program, the company had entrusted Chiyoda Bank to manage stock grants linked to executive performance since August 18, 2023. With plans to review future performance-based compensation systems, the board concluded the program was no longer necessary. As per the trust agreement, the company intends to acquire approximately 33,500 shares on August 03, 2026.

Details on the exact number of shares to be canceled will be disclosed promptly after resolution at the scheduled board meeting on August 13, 2026. Chikaranomoto's equity trust program involved Chiyoda Bank acting as trustee, with Nippon Custodian Bank serving as sub-trustee through a specific comprehensive trust agreement. Beneficiaries included directors who met stipulated conditions outlined in the share grant regulations. An independent third party managed the trust, which operated as a non-monetary benefit trust until its conclusion.