TOKYO, Mar 19 (Pulse News Wire) – ITOCHU Corporation (8001.T) resolved today to continue its Board Incentive Plan (BIP) trust scheme through fiscal year 2028. Under the plan, eligible directors and officers will receive shares based on performance metrics calculated annually since July 1, 2016.
The trust will cover two fiscal years ending March 31, 2028, distributing shares upon retirement contingent on meeting certain criteria such as domestic residency and service duration. Eligible recipients earn points annually based on company performance and dividend payouts. Performance points are determined by a formula linked to net income growth rates, while dividend points are awarded based on cumulative earnings and tenure. Each point corresponds to one share, adjusted for stock splits or consolidations during the trust period.
Notably, ITOCHU conducted a five-for-one stock split effective May 1, 2026, ensuring economic equivalence in compensation post-split. The total cap for contributions to the trust fund is set at ¥8 billion, covering two fiscal years. Additionally, the aggregate limit for granted points stands at ¥4.5 million points over the same period. Shares acquired via the trust will be sourced primarily from the open market within allocated funds, with voting rights abstained throughout the term to maintain neutrality in governance.
Dividends received on held shares will be used for trust expenses and additional point allocations according to established formulas.
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