For inquiries on this matter, please contact
- Mitsui & Co., Ltd.
Investor Relations Division - Contact form
- Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819 - Contact form
Main Contents
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to extend the duration of the share-based compensation plan for its employees (the "Plan") that was initially established on September 1, 2020, as well as the trust created for the purpose of introducing the Plan (the "Trust"). Mitsui has also decided to entrust additional funds to trustees used to acquire additional Mitsui shares.
1. Objective of the Continuation of the Plan
Mitsui decided to introduce the Plan in 2020 based on the belief that, in order for Mitsui to sustain its growth and development under a drastically changing business environment, it is essential that its diverse employees continue to work for "Transformation and Growth" together with its management and further strengthen their commitment to enhancing Mitsui's corporate value over the medium-to-long term under the Medium-term Management Plan 2023, which was announced in 2020.
Mitsui has decided to extend the duration of the Plan because of the continuing need to enhance employees' focus on the improvement of medium- to long-term corporate value, to encourage further behavioral changes, and to heighten engagement, in order to ensure the realization of the Medium-term Management Plan 2026 with its theme of "Creating Sustainable Futures", which was announced in May 2023.
For an overview of the Plan, please refer to "Notice Regarding Introduction of Share-Based Compensation Plan for Employees" dated July 31, 2020.
2. Overview of the Trust
| (1) Name | Stock grant trust for employees |
|---|---|
| (2) Trustor | Mitsui & Co., Ltd. |
| (3) Trustees | Sumitomo Mitsui Trust Bank, Ltd. (Co-Trustee: Custody Bank of Japan, Ltd.) |
| (4) Beneficiaries | Employees who qualify as beneficiaries |
| (5) Trust administrator | A third party that is independent of Mitsui and its officers |
| (6) Exercise of voting rights | The Trust Administrator advises the exercise of voting rights |
| (7) Type of trust | Money trust other than a specified cash trust for separate investment |
| (8) Date of trust contract | August 11, 2020 |
| (9) Date of additional cash entrustment | July 12, 2023 (planned) |
| (10) End of trust period (after extension) | August 31, 2026 (planned) |
3. Items Relating to the Acquisition of Mitsui Shares by the Trustees
| (1) Type of shares to be acquired | Common stock of Mitsui |
|---|---|
| (2) Total value of shares to be acquired | JPY 24.75 billion (maximum) |
| (3) Total number of shares to be acquired | 3,640,000 (maximum) |
| (4) Share acquisition method | Acquisition through trading on the stock market (including off-floor trading) |
| (5) Share acquisition period | July 12, 2023 - July 31, 2023 (planned) |