TOKYO, May 15 (Pulse News Wire) – JTEKT Corporation (6473.T) announced today that its board of directors, held, approved the repurchase of its own shares (self-share disposal) for executives. The repurchase will take place on June 26, 2026, involving 1,000,000 ordinary shares at a price of ¥1,000 per share, totaling ¥1,000,000,000.
The shares will be transferred to three executive directors who received restricted stock awards based on monetary bonds worth up to ¥1,000,000 annually. Under the restricted stock award system introduced in May 2021, executives receive monetary bonds which are used as capital contributions to acquire JTEKT's ordinary shares. Each share’s issuance price is determined based on the closing price of JTEKT's ordinary shares on the Tokyo Stock Exchange Prime Market on the day preceding the board resolution.
The repurchased shares will be subject to a 30-year restriction period during which they cannot be sold or pledged without certain conditions being met. The repurchase aims to enhance executive motivation and align their interests with those of shareholders over the long term. In case of resignation due to normal expiration of tenure or other legitimate reasons within the restriction period, the restrictions will be lifted immediately upon departure.
Additionally, JTEKT reserves the right to reclaim the shares free of charge if the restrictions remain unmet.
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