[Kuribayashi Steamship] Implementation of Share Buyback and Stock Compensation System | July 2024

Overview of Share Buyback

Kuribayashi Steamship has resolved, through a board of directors resolution, to dispose of 15,520 common shares as part of its restricted stock compensation system. The disposal price is 1,725 yen per share, for a total of 26.77 million yen. The disposal will be carried out on August 21, 2024, targeting 10 directors and 3 auditors. The purpose of the disposal is to enhance incentives for management and to increase corporate value.

Stock Compensation System and Future Outlook

This system grants restricted stock to officers, with transfer restrictions enforced for a set period, which are解除 (lifted) or shares are acquired without compensation upon officers' retirement or organizational restructuring. This disposal aims to promote incentive alignment and sustainable corporate growth, ultimately enhancing shareholder value.