TOKYO, Mar 27 (Pulse News Wire) – Toabo Corporation (3204.T) announced today that its board of directors, held on March 27, approved the implementation of an incentive program utilizing restricted shares. Under this program, the company will distribute ordinary shares worth up to ¥1 billion to 73 management-level employees on April 21.
Each share will be priced at ¥1,000 per share, totaling ¥100 million. The distribution includes 27 executives from the parent company and 46 from subsidiaries. The shares come with restrictions prohibiting transfers until May 31, 2031.
Employees who remain continuously employed during this period will have their restrictions lifted upon expiration. Should an employee retire due to normal retirement age or other valid reasons, the restrictions will also be lifted immediately prior to their departure date. Additionally, the company will acquire any undistributed shares free of charge either at the end of the restriction period or upon certain conditions such as violation of laws or regulations.
The shares will be managed through a dedicated account at Nomura Securities Co., Ltd., ensuring compliance with the restrictions throughout the designated period.
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