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Press Release

July 27, 2004
DISCO to Issue Compensation-type Stock Options (Share Acquisition Rights)

DISCO Corporation (hereafter the "Company") hereby announces that it resolved, at the meeting of Board of Directors today, the details in respect of Share Acquisition Rights to be issued as stock compensation-type stock options pursuant to the provisions of Article 280-20 and 280-21 of the Commercial Code, which have been approved at the 65th Ordinary General Meeting of Shareholders of the Company held on June 24, 2004.


1. Date of issuance of Share Acquisition Rights:
July 27, 2004
2. Total number of Share Acquisition Rights:
158 (100 common shares per Share Acquisition Right)
3. Exercise price of Share Acquisition Rights:
Free of charge
4. Class and number of shares to be issued upon exercise of Share Acquisition Rights:
15,800 shares of common stock of the Company
5. Amount to be paid-in upon exercise of Share Acquisition Rights:
The amount to be paid per share will be 100 yen.
6. Period during which the Share Acquisition Rights may be exercised:
July 28, 2004 to June 1, 2024
7. Condition to exercise Share Acquisition Rights:
(1) Conditions to exercise Share Acquisition Rights by the Optionee shall be as follows:
a. The Optionee may exercise Share Acquisition Rights to the extent that he or she has retired from the position of director of the Company (not including cases where he or she is reelected);
b. If the Optionee passes away, the heirs may exercise the Share Acquisition Rights.
c. If the Optionee commits any act in violation of law or regulations or internal rules of the Company (which includes, but is not limited to, cases in which the Optionee is found guilty for any act for which it may be punished by the criminal laws, cases in which the Optionee is liable to compensate the Company pursuant to Article 266 of the Commercial Code of Japan, and cases in which the Optionee is discharged from the Company for disciplinary reasons) or if the Optionee becomes a director, statutory auditor, employee, non-regular employee, adviser or consultant of a company which competes with the Company or upon the occurrence of any other circumstances under which the Company regards it as inappropriate to permit the Optionee to exercise the Share Acquisition Rights, the Optionee may no longer exercise the Share Acquisition Rights.
d. Merger of Company
If the Company merges or is amalgamated with another company, the outstanding Share Acquisition Rights shall be governed by the relevant provisions of the respective merger or amalgamation agreements.
(2) The Company may determine any condition to exercise other than above in accordance with the resolution of the Board of Directors.
8. Matters relating to transfer of Share Acquisition Rights:
Share acquisition rights certificates shall be issued only at the request of holders of share acquisition rights.
9. Issuance of certificates of Share Acquisition Rights:
The Company shall issue certificates of the share acquisition rights only if and when so requested by the Optionee.
10. Portion of issue price of shares issued upon exercise of Share Acquisition Rights to be credited to stated capital:
1 yen per share
11. Number of people to be solicited and breakdown:
9 directors of the Company


(1) Date of resolution of the Board of Directors for proposal to the Ordinary General Meeting of Shareholders: May 19, 2004
(2) Date of resolution of the Ordinary General Meeting of Shareholders: June 24, 2004

Contact: Tsutomu Nakayama
Phone: 81-3-4590-1099
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