TOKYO, Jun 05 (Pulse News Wire) – Saxa,inc. (6675.T) announced today that its board of directors has decided to initiate discussions on introducing an equity trust plan (J-ESOP) aimed at enhancing employee engagement and reviewing retirement benefit programs to accommodate diverse work styles and life plans.
The company recognizes that investing in human capital is crucial for sustainable growth and long-term value enhancement. As part of this strategy, SAXA intends to launch an equity trust program designed to boost employees' stock awareness and contribution towards corporate value improvement. Additionally, the firm will commence reviews to streamline and modernize its existing retirement benefits system, targeting implementation by April 2028. Under the proposed J-ESOP, eligible employees meeting certain criteria will receive company shares based on accumulated points. The equity trust mechanism involves pre-acquiring shares through Mizuho Trust Bank, which will manage these shares separately as trust assets.
Details such as the timing, duration, and total number of shares to be distributed will be disclosed once finalized. Regarding the retirement benefit reforms, SAXA plans to introduce a defined contribution pension scheme alongside a voluntary deferred payment retirement allowance system. Existing employees will transition their rights to the new DC plan by March 31, 2028, while past service benefits under the defined benefit scheme will remain unaffected until that date. Financial impacts associated with these changes will be accounted for according to the established equity trust regulations. Further updates on potential effects on group performance due to revised retirement costs will be communicated upon completion of assessments.
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