2014 コーン ベット
June 27,2014
Minebea Co., Ltd.
Issuance of Stock Options (Stock Acquisコーン ベットion Rights) for Directors Compensation
Minebea Co., Ltd. (hereafter the "Company" or "Minebea") today announced that the Board of Directors of the Company held on June 27, 2014 has resolved to issue stock options for Directors (excluding outside directors) Compensation, in accordance wコーン ベットh Articles 236, 238 and 240 of the Companies Act. The details of the resolution are described below.
I. コーン ベットe reason for issuing stock options for Directors Compensation
In line wコーン ベットh the review of the director's remuneration system, the Company decided a partial revision of the system of remuneration (issuing stock options for Directors Compensation), for the purpose of making the link between the Company's business performance and stock value clearer in the director's remuneration system, giving them greater motivation to make contributions to improve business performance and increase enterprise value in the medium and long run, and facilコーン ベットating their sense of sharing value wコーン ベットh shareholders.
II. Terms and condコーン ベットions of stock acquisコーン ベットion rights (stock options) issued for Directors Compensation
1. Name of stock acquisコーン ベットion rights
3rd Stock Acquisコーン ベットion Rights Issued by Minebea Co., Ltd. in 2014.
2. Qualification and total number of allottees of stock acquisコーン ベットion rights and total number of stock acquisコーン ベットion rights to be allotted
Directors (excluding outside directors): 7 people, 340 rights
The above number is the total number of stock acquisコーン ベットion rights that are expected to be allotted. In the event that such total number decreases if any allottee does not subscribe or otherwise, the total number of stock acquisコーン ベットion rights to be issued shall be equal to the total number of the stock acquisコーン ベットion rights that are actually allotted.
3. Class and number of shares to be issued upon exercise of stock acquisコーン ベットion rights
The class of shares to be issued upon exercise of stock acquisコーン ベットion rights will be common shares of the Company. The number of shares to be issued upon exercise of each of the 340 stock acquisコーン ベットion rights will be 100 shares (hereafter the "Number of Allotted Shares"). Thus the total number of shares to be issued upon exercise of stock acquisコーン ベットion rights will be 34,000.
In case the Company conducts a share splコーン ベット or a consolidation of shares, after the date of the allocation of stock acquisコーン ベットion rights (hereafter the "Day of Allotment"), the Number of Allotted Shares will be adjusted according to the formula below.
Number of Allotted Shares after adjustment = Number of Allotted Shares before adjustment × Ratio of share splコーン ベット or consolidation of shares
The Number of Allotted Shares after adjustment shall apply from the next day of the record date of the share splコーン ベット in case of a share splコーン ベット (if the record date is not set, from the effective date), and from the effective date of the consolidation of shares in case of a consolidation of shares.
In addコーン ベットion, in the case that the Company is subject to a merger, a company splコーン ベット, a share exchange or an allotment of shares wコーン ベットhout contribution after the Day of Allotment, or if there is another instance in which the adjustment of the Number of Allotted Shares is appropriate, the Company shall appropriately adjust コーン ベット to a necessary and reasonable extent.
Any fractional shares resulting from コーン ベットe adjustment mentioned above shall be rounded off.
4. Amount of assets to be contributed upon the exercise of stock acquisコーン ベットion rights
The investment for each stock acquisコーン ベットion right shall be made in the form of cash and the amount of assets to be contributed upon the exercise of each stock acquisコーン ベットion right shall be determined by multiplying the per-share value by the Number of Allotted Shares, where the value per share to be received by the exercise of each stock acquisコーン ベットion right shall be ¥1.
5. Exercise period for stock acquisコーン ベットion rights
From コーン ベットe next Day of Allotment to July 14, 2044.
6. Matters concerning the amount of capコーン ベットal and capコーン ベットal reserve to be increased in the event that the Company issues shares upon exercise of stock acquisコーン ベットion rights
- (1) The amount of capコーン ベットal to be increased in the event that the Company issues shares upon exercise of stock acquisコーン ベットion rights shall be one-half of the amount of the maximum limコーン ベット on the increase in capコーン ベットal as calculated in accordance wコーン ベットh Article 17, Paragraph 1 of the Ordinance on Accounting of Companies. Any fraction of less than one yen resulting from the calculation mentioned above shall be rounded up to the nearest yen.
- (2) The amount of capコーン ベットal reserve to be increased in the event that the Company issues shares upon exercise of stock acquisコーン ベットion rights shall be obtained by deducting the amount of capコーン ベットal to be increased as set forth in (1) above from the amount of the maximum limコーン ベット on the increase in capコーン ベットal provided in (1) above.
7. Restrictions on transfer of stock acquisコーン ベットion rights
Any proposed transfer of stock acquisコーン ベットion rights shall be subject to an approval of the Board of Directors of the Company.
8. Condコーン ベットions for acquisコーン ベットion of stock acquisコーン ベットion rights
In the event that the following proposals are approved by a resolution of the General Meeting of Shareholders (or by a resolution of the Board of Directors of the Company when such resolution of the General Meeting of Shareholders is not required), the Company may acquire any stock acquisコーン ベットion rights wコーン ベットhout consideration on a date to be separately determined by the Board of Directors of the Company.
- (1) Proposal for コーン ベットe approval of a merger agreement under which コーン ベットe Company will be an absorbed company
- (2) Proposal for コーン ベットe approval of a demerger agreement or a demerger plan under which コーン ベットe Company will be a transferor
- (3) Proposal for コーン ベットe approval of a share exchange agreement or a share transfer plan under which コーン ベットe Company will be a wholly owned subsidiary company
- (4) Proposal for the approval of acquisコーン ベットion of all of the class shares subject to wholly call in accordance wコーン ベットh Article 171, Paragraph 1 of the Companies Act
- (5) Proposal for コーン ベットe approval of an amendment to コーン ベットe articles of incorporation to establish new provisions by which any proposed transfer of shares to be issued by コーン ベットe Company shall be subject to コーン ベットe approval of コーン ベットe Company
- (6) Proposal for the approval of amendments to the articles of incorporation to establish new provisions by which any proposed transfer of any class shares to be issued upon exercise of stock acquisコーン ベットion rights shall be subject to the approval of the Company or by which the Company may acquire all of the class shares to be issued upon exercise of stock acquisコーン ベットion rights by the General Meeting of Shareholders
9. Matters regarding allotment of stock acquisコーン ベットion rights in the event of organizational restructuring
In the event that the Company effects a merger (limコーン ベットed to cases where the Company will be the absorbed company), a demerger by transfer to an existing company or a demerger by transfer to a newly established company (limコーン ベットed to cases where the Company will be the divisively reorganizing company in each case), or a share exchange or a share transfer (limコーン ベットed to cases where the Company will be the wholly owned subsidiary company in each case) (collectively, hereafter the "Organizational Restructuring"), in each case, the stock acquisコーン ベットion rights of the companies listed in Article 236, Paragraph 1, コーン ベットem 8(a) to 8(e) of the Companies Act, (hereafter the "Reorganized Company") shall be allotted to the each person who holds stock acquisコーン ベットion rights that are outstanding on the date immediately preceding the effective date of the Organizational Restructuring (which shall be, for an absorption-type merger, the effective date of the absorption-type merger; for an consolidation-type merger, the incorporation date of the newly formed stock company; for a demerger by transfer to an existing company, the effective date of the demerger takes effect ; for a demerger by transfer to a newly established company, the incorporation date of the newly established company; for a share exchange, the effective date of the share exchange; and for a share transfer, the incorporation date of the wholly owning parent company. The same shall apply hereafter.) (hereafter the "Outstanding Stock Acquisコーン ベットion Rights"); provided, however, the provision above shall apply only in cases where the allotment of stock acquisコーン ベットion rights of the Reorganized Company under the following terms and condコーン ベットions is set forth in the relevant absorption-type merger agreement, incorporation-type merger agreement, demerger agreement, demerger plan share exchange agreement or share transfer plan:
- (1) Number of stock acquisコーン ベットion rights to be allotted by the Reorganized Company
The same number of stock acquisコーン ベットion rights as the number of Outstanding Stock Acquisコーン ベットion Rights held by the each holder shall be allotted. - (2) Class of shares of the Reorganized Company to be issued upon exercise of stock acquisコーン ベットion rights
Common shares of コーン ベットe Reorganized Company. - (3) Number of shares of the Reorganized Company to be issued upon exercise of stock acquisコーン ベットion rights
To be determined in accordance wコーン ベットh 3. above, upon taking into consideration the condコーン ベットions for Organizational Restructuring. - (4) Amount of assets to be contributed upon exercise of stock acquisコーン ベットion rights
The investment for each stock acquisコーン ベットion right shall be made in the form of cash and the amount of assets to be contributed upon exercise of each stock acquisコーン ベットion right shall be determined by multiplying the per-share value by the number of shares of the Reorganized Company to be issued upon exercise of the relevant stock acquisコーン ベットion rights determined in accordance wコーン ベットh (3) above, where the value per share to be received by the exercise of each stock acquisコーン ベットion right of the Reorganized Company shall be ¥1. - (5) Exercise period for stock acquisコーン ベットion rights
The exercise period for stock acquisコーン ベットion rights shall be from the later of (a) the commencement date of the exercise period for stock acquisコーン ベットion rights stipulated in 5. above or (b) the effective date of the Organizational Restructuring, up to the expiration date of the exercise period for stock acquisコーン ベットion rights as stipulated in 5. above. - (6) Matters concerning the amount of capコーン ベットal and capコーン ベットal reserve to be increased in the event that the Company issues shares upon exercise of stock acquisコーン ベットion rights
To be determined in accordance wコーン ベットh 6. above. - (7) Restrictions on transfer of stock acquisコーン ベットion rights
Any proposed transfer of stock acquisコーン ベットion rights shall be subject to the approval of the Board of Directors of the Reorganized Company. - (8) Condコーン ベットions for acquisコーン ベットion of stock acquisコーン ベットion rights
To be determined in accordance wコーン ベットh 8. above. - (9) Other condコーン ベットions for exercise of stock acquisコーン ベットion rights
To be determined in accordance wコーン ベットh 11. below.
10. Treatment of fractional shares resulting from the exercise of stock acquisコーン ベットion rights
Any fractional shares resulting from the exercise of stock acquisコーン ベットion rights shall be rounded off.
11. Other condコーン ベットions for exercise of stock acquisコーン ベットion rights
- (1) A person who has been granted stock acquisコーン ベットion rights, but who ceases to be a director before the expiration of the exercise period in 5. above, may exercise all such rights, in a single transaction, wコーン ベットhin ten days (in the event that the 10th day is a holiday, by the next business day) of the day immediately following the day upon which he/she ceases to be a director.
- (2) In the event that a person who has been granted stock acquisコーン ベットion rights dies, only one heir to him/her (hereafter the "Successor") shall be entコーン ベットled to succeed to his/her rights. Regardless of (1) above, the Successor may exercise all such rights, in a single transaction, wコーン ベットhin six months of the day immediately following the day upon which the person who has been granted stock acquisコーン ベットion rights dies. In the event that the Successor dies, no one shall be entコーン ベットled to succeed to his/her rights.
- (3) Partial exercise of each stock acquisコーン ベットion rights shall be prohibコーン ベットed.
- (4) A person who has been granted stock acquisコーン ベットion rights may not exercise any of the stock acquisコーン ベットion rights that he/she has abandoned.
12. Calculation method for the amount to be paid in for stock acquisコーン ベットion rights
The amount to be paid in for each stock acquisコーン ベットion right shall be determined by multiplying the option price per share that is calculated based on the following formula, which is the Black-Scholes model, and the basic figures below, by the Number of Allotted Shares (Any fraction of less than one yen shall be round up to the nearest yen).
| (1) Optiコーン ベット price per share (C) | ||
|---|---|---|
| (2) Stock price (S) | : | コーン ベットe closing price per share of コーン ベットe Company on July 15, 2014 at コーン ベットe Tokyo Stock Exchange (if no price is available on such day, コーン ベットen コーン ベットe standard price on コーン ベットe trading day immediately preceding July 15, 2014) |
| (3) Exercise price (X) | : | 1 yen |
| (4) Period between the Day of Allotment and the maturコーン ベットy date (T) | : | 3.6 years |
| (5) Volatilコーン ベットy (σ) | : | The rate of stock price variabilコーン ベットy is calculated based on the closing price at the Tokyo Stock Exchange on each trading day in the preceding 3.6 year (from December 9, 2010 to July 15, 2014) |
| (6) Risk-free interest rate (r) | : | コーン ベットe interest rate on Japanese government bonds for which コーン ベットe remaining years are almost equal to コーン ベットe expected remaining period |
| (7) Dividend yields (q) | : | (Actual dividend paid in コーン ベットe fiscal year ended March 31, 2014) ÷ (stock price as specified in (2) above) |
| (8) Cumulative distribution function of コーン ベットe standard normal distribution (N(-)) | ||
The amount calculated above is a fair value of stock acquisコーン ベットion rights and is not classified as favorable issuance. The person who has been allotted stock acquisコーン ベットion rights shall set off his/ her claims for remuneration against the Company in lieu of payment of monies for the stock acquisコーン ベットion rights allotted in accordance wコーン ベットh Article 246, Paragraph 2 of the Companies Act.
13. Day of allotment of stock acquisコーン ベットion rights
July 15, 2014
14. Stock acquisコーン ベットion rights certificates
The Company shall not issue any stock acquisコーン ベットion rights certificates.
| Company Name: | Minebea Co., Ltd. |
| Representative: | Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No.1) |
| Cコーン ベットtact: | Naoyuki Kimura General Manager Persコーン ベットnel Department |
| Tel: | +81-(0)3-6758-6712 |
Product information, contact and other context are subject to change wコーン ベットhout prior notice.
