Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced its intent to introduce the "MOL Global Share Purchase Plan," which will provide opportunities for MOL overseas group executives and employees to acquire shares in the company.
Overseas executives and employees can receive incentive payments from each overseas group company to purchase shares of the company's common stock by contributing a fixed monthly amount through the plan.
1. Objective of the plan
The MOL Group encourages its employees to join the MOL Employee Shareholding Association in Japan and provides incentive payments to its members, intending to help employees gain a greater sense of fulfillment in their work while building assets through ownership of the company's shares (Note). MOL will now expand this scheme and introduce a plan that allows overseas group executives and employees to purchase its shares in the similar way.
This scheme is designed to raise awareness among overseas executives and employees about the opportunity to participate in management and to improve their overall engagement in the business. While only a limited number of companies in Japan have extended the scope of the share purchase plan to overseas executives and employees, MOL has decided to introduce this plan with an eye toward improving group-wide focus on medium- and long-term improvement of corporate value with MOL's shareholders. In addition, the MOL Group views human resources as "capital" and promotes "human capital management" to maximize its value, and the share purchase plan exemplifies the group's efforts to strengthen human capital management.
2. Outline of the plan
- Name: MOL Global Share Purchase Plan
- Target companies: Overseas group companies (To be introduced progressively in 111 companies in 37 countries, with a target date of March 2027)
- Target persons: Executives and employees of target companies. (Participation is voluntary. The plan excludes employees seconded from Japan to overseas (those eligible for the Domestic Shareholding Association). Employees/executives may not be eligible depending on the employment status of each overseas group company).
- Contribution: Up to the equivalent of US$1,000 per month
- Incentive: Individual companies will determine.
3. Other
The introduction of this plan will have only a negligible impact on the Company's consolidated financial results.
