TOKYO, Jun 26 (Pulse News Wire) – Watahan & CO.,LTD. (3199.T) announced that its board of directors resolved to distribute restricted shares to five non-audit committee directors on July 24, 2026.
The distribution involves ordinary shares totaling 42,735 at a price of ¥1,404 per share, resulting in a total amount of ¥60.0 million. This decision follows the introduction of a restricted stock compensation system aimed at aligning director remuneration with stock value and promoting sustained corporate value enhancement. Under this system, directors will receive monetary compensation bonds worth ¥60.0 million in exchange for their restricted shares. The restricted holding period extends until July 23, 2056, ensuring long-term commitment to the company's growth objectives.
The restricted shares cannot be transferred, pledged, or gifted during the restriction period without approval from the company’s board of directors. Upon completion of the restriction period, or earlier under certain conditions such as resignation or death, the restrictions will be lifted, allowing directors to dispose of their shares freely. In cases where restrictions remain unlifted upon expiration, the company will acquire those shares. Watahan & CO.,LTD.
Will manage the restricted shares through Mizuho Securities according to specific procedures outlined in the agreement.
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