TOKYO, May 11 (Pulse News Wire) – NichiAs Corporation (5393.T) resolved at its board meeting held, to dispose of treasury shares worth ¥496.2 million in connection with the introduction of a stock grant program aimed at enhancing employee engagement and long-term performance. The disposal is scheduled for May 28, 2026, involving the transfer of ordinary shares totaling 156,080 to Nippon Mitsubishi UFJ Trust & Banking Corporation (Stock Grant ESOP Trust Account).
The purpose of this share disposition is to support the implementation of the Employee Stock Ownership Plan (ESOP) trust, which was approved during the board meetings on March 23 and May 11, 2026. The ESOP trust aims to reward employees' contributions and foster a sense of belonging and participation in the company's operations. The number of shares to be disposed of represents approximately 0.08% of the outstanding shares, based on the total voting rights count of 629,016 as of March 31, 2026.
After considering the recent share split ratio of 1:3 effective April 1, 2026, the dilution impact remains reasonable. The disposal price per share is set at ¥3,179, determined based on the closing price of NichiAs shares on the Tokyo Stock Exchange on May 8, 2026. This approach ensures objectivity and,(5,3), Given the anticipated gradual distribution of shares to eligible employees according to the stock grant regulations, the company expects minimal immediate impact on the stock market.
As such, the board concluded that the proposed share disposition aligns with regulatory requirements without necessitating additional shareholder approval processes.
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