The Japan Steel Works,Ltd. [5631.T]
TOKYO, Jun 22 (Pulse News Wire) – The Japan Steel Works,ltd. (5631.T) resolved to issue restricted shares to its executives during a board meeting held.
The issuance, scheduled for July 21, 2026, involves ordinary shares totaling 12,393. Each share will be priced at ¥7,903 per share, resulting in a total issuance amount of ¥97.9 million. The shares will be granted to five directors (excluding external directors) and eleven executive officers. As part of the incentive program approved by shareholders in 2018, the restricted stock grant aims to align management interests with those of shareholders while promoting long-term value creation. Under the scheme, recipients cannot sell or pledge their shares until they cease serving as either directors or executive officers.
In addition, the company introduced a similar restricted stock compensation plan for executive officers, which was also approved by shareholders in 2018. This latest issuance includes granting ordinary shares worth 12,393 based on monetary compensation bonds totaling ¥97.9 million to the 16 designated individuals. The restriction period ends upon the recipient's departure from their position as a director or executive officer. The agreement stipulates that if a recipient leaves due to retirement, death, or other valid reasons within the restriction period, a portion of the shares will remain subject to restrictions based on the duration of service. Furthermore, the company retains the right to acquire unrestricted shares free of charge once the restrictions lapse.
To ensure compliance, the shares will be managed through dedicated accounts set up at Nomura Securities Co., Ltd.
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