Tokyu Construction to dispose of treasury shares for compensation

Tokyu Construction (TSE:1720) announced it will dispose of 30,180 treasury shares at JPY 1,047 per share, totaling JPY 31,598,460, as part of its restricted stock compensation plan for eligible directors, excluding outside and non-executive directors. The move, approved by the Board of Directors on June 25, aims to incentivize sustained corporate value improvement and align executive interests with those of shareholders. Under the plan, the eligible directors will contribute monetary compensation claims to acquire company common stock, with transfer restrictions in place for 30 years. The disposal aligns with the plan approved at the 18th Annual General Meeting of Shareholders on June 24, 2021, which authorized the granting of restricted share remuneration. The initiative is part of Tokyu Construction's broader strategy to enhance long-term corporate value and promote greater value sharing with its shareholders, solidifying its commitment to future growth.