Pia Corp. issues restricted shares to incentivize employees, boost shareholder value

Pia Corporation's board resolved today to issue 12,000 shares of its common stock as restricted shares. The new shares, priced at JPY 2,561 per share, will have a total value of JPY 30,732,000. These shares will be allocated to 40 employees, comprising 33 Pia Corporation employees receiving 9,900 shares and 7 employees from Pia's subsidiaries receiving 2,100 shares. The payment due date for these shares is January 15, 2026.

This initiative is part of an incentive program adopted in May 2017, aimed at enhancing the company's sustainable value and promoting a shared interest with shareholders. The restricted shares will be subject to a five-year transfer restriction period, from January 15, 2026, to January 14, 2031, during which transfer, pledging, or other dispositions are prohibited. Restrictions will generally be lifted upon the employee's continued service.

The issuance represents a minor dilution of 0.08% against the current 15,615,530 outstanding shares (excluding treasury shares) as of November 30, 2025. The issuance price was determined based on the closing price of Pia Corporation's common stock on the Tokyo Stock Exchange on December 17, 2025. This valuation method ensures a fair and unbiased price.