TOKYO, Mar 30 (Pulse News Wire) – NAKANISHI INC. (7716.T) announced today that its board of directors approved the repurchase of shares as part of a restricted stock compensation program.
The repurchase, scheduled for April 27, involves 4,600 ordinary shares at a price of ¥1,000 per share, totaling ¥4.6 million. The shares will be distributed to seven executives, including inside directors and executive officers who do not serve as directors. The purpose of this repurchase is to incentivize long-term corporate value enhancement and promote greater alignment with shareholders' interests. Under the program, which was introduced in March 2023, the restricted period for these shares extends until the executives retire or resign from their positions within the company or its subsidiaries.
Additionally, the company's board amended the restriction period during the regular general meeting held on March 30, 2023. Each recipient must hold the shares without transferring them or setting up collateral rights during the restriction period. Upon completion of the service period ending, the restrictions will be lifted, allowing for the free transfer of the shares. In case of resignation due to valid reasons such as retirement or death, partial lifting of restrictions will occur based on the duration of service.
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