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San Ju San Financial Launches Employee Stock Ownership Plan

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San ju San Financial Group (TYO:7322) will introduce an employee stock ownership plan to grant company shares to staff of its subsidiary San ju San Bank through a trust structure, according to a Friday filing on the Tokyo Stock Exchange.

The company will establish a trust with Mizuho Trust & Banking, with Custody Bank of Japan as re-trustee, to acquire and manage shares using funds provided by the subsidiary. The trust will buy shares on the market or via treasury stock disposal and distribute them to employees based on internal point allocations.

San Ju San said it will place 470 million yen into the scheme, with the trust set to acquire up to 281,100 shares between May 29 and June 11.

Employees will receive shares or cash equivalents once eligibility conditions are met, while voting rights will be exercised through a trust administrator.

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