TSUBAKIMOTO CHAIN CO. [6371.T]
TOKYO, Jun 26 (Pulse News Wire) – TSUBAKIMOTO CHAIN CO. (6371.T) announced that its board of directors, held on June 26, approved a share repurchase plan involving restricted shares awarded to executives as part of an incentive program aimed at enhancing shareholder value.
Under this plan, the company will distribute ordinary shares worth up to ¥60 million per annum to three executive directors and eighteen executive officers, subject to restrictions on transferability until July 23, 2056. The repurchased shares total 36,189, with each share valued at ¥2,604. The total amount involved in this transaction is ¥94.2 million.
The distribution will take place on July 24, 2026, according to the agreement signed between the company and the recipients. This initiative aligns with the company's strategy to incentivize long-term performance and promote greater alignment with shareholders' interests. The shares come with strict conditions, such as a restriction period lasting up to thirty years, during which the recipients cannot sell, pledge, or otherwise dispose of the shares without approval.
In case of retirement due to normal reasons within the restriction period, partial lifting of restrictions applies based on tenure served.
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