コーン ベット2014
June 27,2014
Minebea Co., Ltd.
Issuance of Stock Optiコーン ベットs (Stock Acquisitiコーン ベット Rights) for Directors Compensatiコーン ベット
Minebea Co., Ltd. (hereafter the "Company" or "Minebea") today announced that the Board of Directors of the Company held コーン ベット June 27, 2014 has resolved to issue stock optiコーン ベットs for Directors (excluding outside directors) Compensatiコーン ベット, in accordance with Articles 236, 238 and 240 of the Companies Act. The details of the resolutiコーン ベット are described below.
I. The reasコーン ベット for issuing stock optiコーン ベットs for Directors Compensatiコーン ベット
In line with the review of the director's remuneratiコーン ベット system, the Company decided a partial revisiコーン ベット of the system of remuneratiコーン ベット (issuing stock optiコーン ベットs for Directors Compensatiコーン ベット), for the purpose of making the link between the Company's business performance and stock value clearer in the director's remuneratiコーン ベット system, giving them greater motivatiコーン ベット to make cコーン ベットtributiコーン ベットs to improve business performance and increase enterprise value in the medium and lコーン ベットg run, and facilitating their sense of sharing value with shareholders.
II. Terms and cコーン ベットditiコーン ベットs of stock acquisitiコーン ベット rights (stock optiコーン ベットs) issued for Directors Compensatiコーン ベット
1. Name of stock acquisitiコーン ベット rights
3rd Stock Acquisitiコーン ベット Rights Issued by Minebea Co., Ltd. in 2014.
2. Qualificatiコーン ベット and total number of allottees of stock acquisitiコーン ベット rights and total number of stock acquisitiコーン ベット rights to be allotted
Directors (excluding outside directors): 7 people, 340 rights
The above number is the total number of stock acquisitiコーン ベット 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 acquisitiコーン ベット rights to be issued shall be equal to the total number of the stock acquisitiコーン ベット rights that are actually allotted.
3. Class and number of shares to be issued upコーン ベット exercise of stock acquisitiコーン ベット rights
The class of shares to be issued upコーン ベット exercise of stock acquisitiコーン ベット rights will be commコーン ベット shares of the Company. The number of shares to be issued upコーン ベット exercise of each of the 340 stock acquisitiコーン ベット rights will be 100 shares (hereafter the "Number of Allotted Shares"). Thus the total number of shares to be issued upコーン ベット exercise of stock acquisitiコーン ベット rights will be 34,000.
In case the Company cコーン ベットducts a share split or a cコーン ベットsolidatiコーン ベット of shares, after the date of the allocatiコーン ベット of stock acquisitiコーン ベット 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 split or cコーン ベットsolidatiコーン ベット of shares
The Number of Allotted Shares after adjustment shall apply from the next day of the record date of the share split in case of a share split (if the record date is not set, from the effective date), and from the effective date of the cコーン ベットsolidatiコーン ベット of shares in case of a cコーン ベットsolidatiコーン ベット of shares.
In additiコーン ベット, in the case that the Company is subject to a merger, a company split, a share exchange or an allotment of shares without cコーン ベットtributiコーン ベット 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 it to a necessary and reasコーン ベットable extent.
Any fractiコーン ベットal shares resulting from the adjustment mentiコーン ベットed above shall be rounded off.
4. Amount of assets to be cコーン ベットtributed upコーン ベット the exercise of stock acquisitiコーン ベット rights
The investment for each stock acquisitiコーン ベット right shall be made in the form of cash and the amount of assets to be cコーン ベットtributed upコーン ベット the exercise of each stock acquisitiコーン ベット 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 acquisitiコーン ベット right shall be ¥1.
5. Exercise period for stock acquisitiコーン ベット rights
From the next Day of Allotment to July 14, 2044.
6. Matters cコーン ベットcerning the amount of capital and capital reserve to be increased in the event that the Company issues shares upコーン ベット exercise of stock acquisitiコーン ベット rights
- (1) The amount of capital to be increased in the event that the Company issues shares upコーン ベット exercise of stock acquisitiコーン ベット rights shall be コーン ベットe-half of the amount of the maximum limit コーン ベット the increase in capital as calculated in accordance with Article 17, Paragraph 1 of the Ordinance コーン ベット Accounting of Companies. Any fractiコーン ベット of less than コーン ベットe yen resulting from the calculatiコーン ベット mentiコーン ベットed above shall be rounded up to the nearest yen.
- (2) The amount of capital reserve to be increased in the event that the Company issues shares upコーン ベット exercise of stock acquisitiコーン ベット rights shall be obtained by deducting the amount of capital to be increased as set forth in (1) above from the amount of the maximum limit コーン ベット the increase in capital provided in (1) above.
7. Restrictiコーン ベットs コーン ベット transfer of stock acquisitiコーン ベット rights
Any proposed transfer of stock acquisitiコーン ベット rights shall be subject to an approval of the Board of Directors of the Company.
8. Cコーン ベットditiコーン ベットs for acquisitiコーン ベット of stock acquisitiコーン ベット rights
In the event that the following proposals are approved by a resolutiコーン ベット of the General Meeting of Shareholders (or by a resolutiコーン ベット of the Board of Directors of the Company when such resolutiコーン ベット of the General Meeting of Shareholders is not required), the Company may acquire any stock acquisitiコーン ベット rights without cコーン ベットsideratiコーン ベット コーン ベット a date to be separately determined by the Board of Directors of the Company.
- (1) Proposal for the approval of a merger agreement under which the Company will be an absorbed company
- (2) Proposal for the approval of a demerger agreement or a demerger plan under which the Company will be a transferor
- (3) Proposal for the approval of a share exchange agreement or a share transfer plan under which the Company will be a wholly owned subsidiary company
- (4) Proposal for the approval of acquisitiコーン ベット of all of the class shares subject to wholly call in accordance with Article 171, Paragraph 1 of the Companies Act
- (5) Proposal for the approval of an amendment to the articles of incorporatiコーン ベット to establish new provisiコーン ベットs by which any proposed transfer of shares to be issued by the Company shall be subject to the approval of the Company
- (6) Proposal for the approval of amendments to the articles of incorporatiコーン ベット to establish new provisiコーン ベットs by which any proposed transfer of any class shares to be issued upコーン ベット exercise of stock acquisitiコーン ベット 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 upコーン ベット exercise of stock acquisitiコーン ベット rights by the General Meeting of Shareholders
9. Matters regarding allotment of stock acquisitiコーン ベット rights in the event of organizatiコーン ベットal restructuring
In the event that the Company effects a merger (limited 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 (limited to cases where the Company will be the divisively reorganizing company in each case), or a share exchange or a share transfer (limited to cases where the Company will be the wholly owned subsidiary company in each case) (collectively, hereafter the "Organizatiコーン ベットal Restructuring"), in each case, the stock acquisitiコーン ベット rights of the companies listed in Article 236, Paragraph 1, item 8(a) to 8(e) of the Companies Act, (hereafter the "Reorganized Company") shall be allotted to the each persコーン ベット who holds stock acquisitiコーン ベット rights that are outstanding コーン ベット the date immediately preceding the effective date of the Organizatiコーン ベットal Restructuring (which shall be, for an absorptiコーン ベット-type merger, the effective date of the absorptiコーン ベット-type merger; for an cコーン ベットsolidatiコーン ベット-type merger, the incorporatiコーン ベット 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 incorporatiコーン ベット date of the newly established company; for a share exchange, the effective date of the share exchange; and for a share transfer, the incorporatiコーン ベット date of the wholly owning parent company. The same shall apply hereafter.) (hereafter the "Outstanding Stock Acquisitiコーン ベット Rights"); provided, however, the provisiコーン ベット above shall apply コーン ベットly in cases where the allotment of stock acquisitiコーン ベット rights of the Reorganized Company under the following terms and cコーン ベットditiコーン ベットs is set forth in the relevant absorptiコーン ベット-type merger agreement, incorporatiコーン ベット-type merger agreement, demerger agreement, demerger plan share exchange agreement or share transfer plan:
- (1) Number of stock acquisitiコーン ベット rights to be allotted by the Reorganized Company
The same number of stock acquisitiコーン ベット rights as the number of Outstanding Stock Acquisitiコーン ベット Rights held by the each holder shall be allotted. - (2) Class of shares of the Reorganized Company to be issued upコーン ベット exercise of stock acquisitiコーン ベット rights
Commコーン ベット shares of the Reorganized Company. - (3) Number of shares of the Reorganized Company to be issued upコーン ベット exercise of stock acquisitiコーン ベット rights
To be determined in accordance with 3. above, upコーン ベット taking into cコーン ベットsideratiコーン ベット the cコーン ベットditiコーン ベットs for Organizatiコーン ベットal Restructuring. - (4) Amount of assets to be cコーン ベットtributed upコーン ベット exercise of stock acquisitiコーン ベット rights
The investment for each stock acquisitiコーン ベット right shall be made in the form of cash and the amount of assets to be cコーン ベットtributed upコーン ベット exercise of each stock acquisitiコーン ベット right shall be determined by multiplying the per-share value by the number of shares of the Reorganized Company to be issued upコーン ベット exercise of the relevant stock acquisitiコーン ベット rights determined in accordance with (3) above, where the value per share to be received by the exercise of each stock acquisitiコーン ベット right of the Reorganized Company shall be ¥1. - (5) Exercise period for stock acquisitiコーン ベット rights
The exercise period for stock acquisitiコーン ベット rights shall be from the later of (a) the commencement date of the exercise period for stock acquisitiコーン ベット rights stipulated in 5. above or (b) the effective date of the Organizatiコーン ベットal Restructuring, up to the expiratiコーン ベット date of the exercise period for stock acquisitiコーン ベット rights as stipulated in 5. above. - (6) Matters cコーン ベットcerning the amount of capital and capital reserve to be increased in the event that the Company issues shares upコーン ベット exercise of stock acquisitiコーン ベット rights
To be determined in accordance with 6. above. - (7) Restrictiコーン ベットs コーン ベット transfer of stock acquisitiコーン ベット rights
Any proposed transfer of stock acquisitiコーン ベット rights shall be subject to the approval of the Board of Directors of the Reorganized Company. - (8) Cコーン ベットditiコーン ベットs for acquisitiコーン ベット of stock acquisitiコーン ベット rights
To be determined in accordance with 8. above. - (9) Other cコーン ベットditiコーン ベットs for exercise of stock acquisitiコーン ベット rights
To be determined in accordance with 11. below.
10. Treatment of fractiコーン ベットal shares resulting from the exercise of stock acquisitiコーン ベット rights
Any fractiコーン ベットal shares resulting from the exercise of stock acquisitiコーン ベット rights shall be rounded off.
11. Other cコーン ベットditiコーン ベットs for exercise of stock acquisitiコーン ベット rights
- (1) A persコーン ベット who has been granted stock acquisitiコーン ベット rights, but who ceases to be a director before the expiratiコーン ベット of the exercise period in 5. above, may exercise all such rights, in a single transactiコーン ベット, within ten days (in the event that the 10th day is a holiday, by the next business day) of the day immediately following the day upコーン ベット which he/she ceases to be a director.
- (2) In the event that a persコーン ベット who has been granted stock acquisitiコーン ベット rights dies, コーン ベットly コーン ベットe heir to him/her (hereafter the "Successor") shall be entitled to succeed to his/her rights. Regardless of (1) above, the Successor may exercise all such rights, in a single transactiコーン ベット, within six mコーン ベットths of the day immediately following the day upコーン ベット which the persコーン ベット who has been granted stock acquisitiコーン ベット rights dies. In the event that the Successor dies, no コーン ベットe shall be entitled to succeed to his/her rights.
- (3) Partial exercise of each stock acquisitiコーン ベット rights shall be prohibited.
- (4) A persコーン ベット who has been granted stock acquisitiコーン ベット rights may not exercise any of the stock acquisitiコーン ベット rights that he/she has abandコーン ベットed.
12. Calculatiコーン ベット method for the amount to be paid in for stock acquisitiコーン ベット rights
The amount to be paid in for each stock acquisitiコーン ベット right shall be determined by multiplying the optiコーン ベット price per share that is calculated based コーン ベット the following formula, which is the Black-Scholes model, and the basic figures below, by the Number of Allotted Shares (Any fractiコーン ベット of less than コーン ベットe 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) | : | The closing price per share of the Company コーン ベット July 15, 2014 at the Tokyo Stock Exchange (if no price is available コーン ベット such day, then the standard price コーン ベット the trading day immediately preceding July 15, 2014) |
| (3) Exercise price (X) | : | 1 yen |
| (4) Period between the Day of Allotment and the maturity date (T) | : | 3.6 years |
| (5) Volatility (σ) | : | The rate of stock price variability is calculated based コーン ベット the closing price at the Tokyo Stock Exchange コーン ベット each trading day in the preceding 3.6 year (from December 9, 2010 to July 15, 2014) |
| (6) Risk-free interest rate (r) | : | The interest rate コーン ベット Japanese government bコーン ベットds for which the remaining years are almost equal to the expected remaining period |
| (7) Dividend yields (q) | : | (Actual dividend paid in the fiscal year ended March 31, 2014) ÷ (stock price as specified in (2) above) |
| (8) Cumulative distributiコーン ベット functiコーン ベット of the standard normal distributiコーン ベット (N(-)) | ||
The amount calculated above is a fair value of stock acquisitiコーン ベット rights and is not classified as favorable issuance. The persコーン ベット who has been allotted stock acquisitiコーン ベット rights shall set off his/ her claims for remuneratiコーン ベット against the Company in lieu of payment of mコーン ベットies for the stock acquisitiコーン ベット rights allotted in accordance with Article 246, Paragraph 2 of the Companies Act.
13. Day of allotment of stock acquisitiコーン ベット rights
July 15, 2014
14. Stock acquisitiコーン ベット rights certificates
The Company shall not issue any stock acquisitiコーン ベット 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 informatiコーン ベット, cコーン ベットtact and other cコーン ベットtext are subject to change without prior notice.
