Trust management system and trust management method

Abstract

This system aims to provide a more user-friendly incentive plan that avoids corporate tax at the time of trust establishment, similar to ESOPs, and allows for the issuance of trust-type stock options free of charge. [Solution] A trust management system according to one embodiment of the present invention has a function to receive input from an authorized holder who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the stock acquisition rights issuing company 11, for a stock acquisition rights delivery trust which is a beneficiary tax trust established for stock acquisition rights with a nominal amount such as 1 yen as the exercise price, and a function to deliver to each beneficiary a number of stock acquisition rights equivalent to the number of stock acquisition rights or points calculated according to the number of stock acquisition rights or points granted to that beneficiary.

Description

Technical Field

[0001] The present invention relates to a trust management system and a trust management method for the operation of a rights - of - first - refusal trust for new shares.

Background Art

[0002] Conventionally, stock options (hereinafter referred to as "rights of first refusal for new shares") that give company officers and external collaborators (hereinafter referred to as "officers, etc.") the right to purchase company shares at an exercise price have been known. Since the profit of the rights of first refusal for new shares increases as the share price of the company shares rises above the exercise price, officers, etc. who are given the rights of first refusal for new shares will make efforts to increase the company value towards an increase in the share price.

[0003] Conventionally, when issuing rights of first refusal for new shares, it has been necessary to determine the grantees and the number of rights of first refusal for new shares to be granted. However, if rights of first refusal for new shares that will generate value in the future are granted to officers, etc. without considering the actual contribution level, etc., in some cases, the work motivation of officers, etc. may be lost, or the contribution as expected by the management may not be seen. Under such circumstances, in recent years, a so - called "trust - type stock option" scheme has emerged, in which initially, the rights of first refusal for new shares are entrusted to the trustee of the trust, and the rights of first refusal for new shares are subsequently delivered to officers, etc. after considering the contribution level to the company. [[ID=仃]]

[0004] Regarding the trust - type stock option, for example, it is disclosed in Patent Document 1. Patent Document 1 discloses that, on the beneficiary - designation date of the initial trust, when beneficiary designation is not made for all or part of the rights of first refusal for new shares that are the trust property, a different trust (hereinafter referred to as "succession trust") that inherits the remaining rights of first refusal for new shares is set, and the trustee of the succession trust is designated as the beneficiary of the initial trust, so that the rights of first refusal for new shares are inherited in a form where the beneficiary is not determined.

Prior Art Documents

Patent Documents

[0005] [Patent Document 1] Japanese Patent Publication No. 2022-23422 [Overview of the project] [Problems that the invention aims to solve]

[0006] Stock-based compensation plans are becoming increasingly popular, particularly among listed companies. These plans can be broadly categorized into those that grant shares to officers and employees, and those that grant stock options. Examples of stock-based incentive plans include schemes that directly grant restricted stock (stock that cannot be transferred or sold for a certain period) to officers and employees, and ESOPs (Employee Stock Ownership Plans) where shares are issued retrospectively from a trust. Examples of stock option-based incentive plans include tax-qualified stock options and 1-yen stock options, where stock options are directly granted to officers and employees, and trust-type stock options, where stock options are issued retrospectively from a trust.

[0007] Incidentally, since issuing shares free of charge as consideration for services is not permitted, when granting shares directly to officers and employees, it was common practice to establish a monetary claim as consideration for services and then issue shares as if it were a contribution in kind. However, with the revision of the Companies Act, free issuance is now permitted only when granting stock compensation to directors of listed companies. However, when using a trust, it is unclear who will receive the shares in the future, and therefore it is also unclear how much monetary claim will be established for whom, making it difficult to use the same method. As a result, the cost of acquiring the shares must be directly contributed to the trust, and using a stock compensation system with a beneficiary tax trust requires a huge contribution (for example, around 5 billion yen for a company with a market capitalization of 1 trillion yen). While it is flexible in that shares can be issued retrospectively, it has the problem of having a high barrier to entry.

[0008] In contrast, the only system that allows for the retroactive is a trust-type stock option. However, with trust-type stock options, the stock options are issued to or acquired by the trustee of the trust without the beneficiaries being determined. Therefore, under Japanese tax law, this becomes a corporate tax trust, meaning that corporate tax is levied on the equivalent of the market value of the trust property at the time the trust property is entrusted to the trustee. As a result, even though stock options themselves can be issued free of charge not only by listed companies but also by individuals other than directors, the heavy corporate tax burden makes their introduction difficult.

[0009] This invention was made in view of the conventional circumstances described above, and aims to realize a mechanism that can provide a more user-friendly incentive plan, such as one that does not incur corporate tax when introducing a trust, like an ESOP, and can be issued free of charge, like a trust-type stock option. [Means for solving the problem]

[0010] A trust management system according to one aspect of the present invention is characterized in that, with respect to a stock acquisition rights delivery trust, which is a beneficiary tax trust established for stock acquisition rights with a nominal amount such as 1 yen as the exercise price, it has a function to receive input from an authorized holder who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the issuing company of the stock acquisition rights, and a function to deliver to the beneficiaries a number of stock acquisition rights equivalent to the number of stock acquisition rights or points calculated according to the number of stock acquisition rights or points granted to the beneficiaries.

[0011] In the trust management system described above, the input of the number of stock acquisition rights or points to be granted to the beneficiary may be carried out in accordance with the stock acquisition rights granting regulations established in advance by the issuing company of the stock acquisition rights.

[0012] Furthermore, in the trust management system described above, the stock acquisition rights may be subject to an exercise condition that they can only be exercised within a specified period from the day following the retirement or resignation of the beneficiary.

[0013] Furthermore, in the trust management system described above, the stock acquisition rights may be subject to a trigger clause that stipulates that the exercise price at the time of beneficiary designation must be equal to or greater than the tax valuation.

[0014] Furthermore, in the trust management system described above, instead of delivering the stock acquisition rights to the beneficiary, the trustee may deliver shares obtained by exercising the stock acquisition rights.

[0015] Another aspect of the present invention relates to a trust management method, which is a beneficiary tax trust established for stock acquisition rights with a nominal amount such as 1 yen as the exercise price, and is characterized by comprising the steps of: receiving input from an authorized holder who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the issuing company of the stock acquisition rights; and delivering to the beneficiaries a number of stock acquisition rights equivalent to the number of stock acquisition rights calculated according to the number of stock acquisition rights or points granted to the beneficiaries. [Effects of the Invention]

[0016] According to the present invention, it is possible to realize a mechanism that provides a more user-friendly incentive plan, such as one that does not incur corporate tax when introducing a trust, like an ESOP, and can be issued free of charge, like a trust-type stock option. [Brief explanation of the drawing]

[0017] [Figure 1] This figure shows an overview of the scheme implemented by the trust management system according to one embodiment of the present invention. [Figure 2] This figure shows an example configuration of a trust management system according to one embodiment of the present invention. [Figure 3] It is a diagram showing a configuration example of a server related to the trust management system of FIG. 2. [Figure 4] It is a diagram showing an example of a processing sequence related to the trust management system of FIG. 2. [Figure 5] It is a diagram showing an example of point data related to the trust management system of FIG. 2. [Figure 6] It is a diagram showing an example of trust data related to the trust management system of FIG. 2.

Mode for Carrying Out the Invention

[0018] Hereinafter, an embodiment of the present invention will be described with reference to the drawings. First, referring to FIG. 1, an outline of a scheme realized by a trust management system according to an embodiment of the present invention will be described. The main feature of this scheme is to handle a new share subscription right delivery trust, which is a beneficiary tax trust for new share subscription rights with a nominal amount such as 1 yen as the exercise price. The trust according to the present invention can be, for example, of types such as retirement income type, salary income type, and tax-qualified type. First, the case of the retirement income type will be taken as an example to explain this scheme.

[0019] An issuing company 11 that issues new share subscription rights to be the trust target formulates a new share subscription right delivery regulation in advance (A1). The new share subscription right delivery regulation includes, for example, regulations such as (a) enterprise scope, (b) beneficiary scope, (c) evaluation rank, and (d) point table for each evaluation rank. The new share subscription right delivery regulation may further include regulations regarding additional points in the case of special achievements (for example, +100 points when a large order is received), regulations regarding the frequency of evaluating officers, regulations regarding the revocation of points, and the like.

[0020] Here, (a) the corporate scope is a regulation regarding the scope of target companies of the trust. A wholly-owned subsidiary of the issuing company, etc. may be included in the corporate scope, and in that case, the wholly-owned subsidiary may define its own regulations. (b) The beneficiary scope is a regulation regarding the scope of positions that can be beneficiaries of the trust. Directors, auditors, executive officers, executive directors, employees with positions (e.g., department heads and section chiefs) may be included in the beneficiary scope. (c) The evaluation rank is a regulation regarding the rank used for evaluating the contribution degree of officers, etc. to the performance improvement of the issuing company. Ranks such as S, A, B, C are defined in descending order of evaluation. (d) The point table for each evaluation rank is a regulation regarding the points to be awarded according to the evaluation rank, and a point table by position may be defined. For example, regarding directors, 100 points are awarded when the evaluation rank is S, 50 points when the evaluation rank is A, 25 points when the evaluation rank is B, and 0 points when the evaluation rank is C. Regarding department heads, 50 points are awarded when the evaluation rank is S, 25 points when the evaluation rank is A, 10 points when the evaluation rank is B, and 0 points when the evaluation rank is C, etc. Such matters are stipulated in tabular form.

[0021] The new share option delivery regulations established by the issuing company 11 are disclosed to officers, etc. 13 who can be beneficiaries of the trust. After completing the establishment of the new share option delivery regulations, the issuing company 11 issues new share options with a nominal amount of 1 yen, etc. as the exercise price of the rights, either free of charge or for a fee, and entrusts the new share option delivery trust, which is a beneficiary taxation trust, to the trustee 12 (A2). This trust is an other-benefit trust with officers, etc. 13 who meet certain requirements as beneficiaries. The new share options subject to the trust are issued either free of charge or for a fee, but when a listed company issues them for a fee (not a favorable issue), a resolution of the board of directors is sufficient (however, a separate resolution regarding compensation is required).

[0022] Subsequently, the issuing company 11 enters the points to be awarded to each of the officers and employees 13 who may become beneficiaries of the trust, in accordance with the stock acquisition rights issuance regulations (A3). The entry of points to be awarded to the officers and employees 13 is carried out by an authorized person who has the authority to award points. For example, the authorized person evaluates the contribution of the officers and employees 13 with ranks such as S, A, B, and C, and awards points for the corresponding rank in the point table corresponding to the officer or employee 13's position. The authorized person is not limited to personnel of the issuing company 11, but may also be the settlor 11 or other persons. The authorized person may also enter the points to be awarded to the officers and employees 13 themselves, rather than evaluating the officers and employees 13 by evaluation rank. Alternatively, the stock acquisition rights issuance regulations may be established so that the authorized person enters the number of stock acquisition rights to be issued to the officers and employees 13 themselves, instead of evaluation ranks or points.

[0023] When the date for determining the beneficiaries of the trust arrives, the trustee 12 shall, in accordance with the stock option issuance regulations, issue a number of stock options calculated according to the points awarded to the beneficiaries selected from among the multiple officers and employees 13 (A4). If the stock option issuance regulations stipulate that the authorized holder should input the number of stock options to be issued to the officers and employees 13, the trustee 12 shall only issue the number of stock options entered by the authorized holder to the beneficiaries.

[0024] In the case of a retirement income type trust, there are exercise conditions attached, such as "the rights can only be exercised within 10 days after retirement (the rights cannot be exercised until retirement)." Therefore, a beneficiary who receives stock options exercises the rights within 10 days after retirement (A5), receives common stock from the issuing company 11 (A6), pays taxes on the acquired stock in accordance with retirement income (A7), and sells the stock at any time to obtain capital gains (A8). If the above exercise conditions are not attached, it becomes a salary income type trust rather than a retirement income type trust, and the beneficiary is required to pay taxes on the stock acquired through the exercise of the rights in accordance with salary income. Also, if the trigger clause described later is not attached, no retirement income or salary income is generated from the exercise of the rights. The above is an overview of this scheme.

[0025] Figure 2 shows an example configuration of a trust management system according to one embodiment of the present invention. As shown in Figure 2, the trust management system in this example comprises a server 21 having a database 22 for managing various data related to trust management, and N client terminals 23-1 to 23-N that are connected to the server 21 via a network such as the Internet.

[0026] Server 21 is managed by the trustee 12, which is the operator of the trust management system. Server 21 provides various processing and functions related to trust management using the data in database 22. Server 21 may be implemented by a single computer or by distributing its functions across multiple computers. Server 21 may also be a cloud server operating in a cloud environment on a network. Database 22 may be implemented on the same device as Server 21 or on a separate device, or it may be implemented on a device at another location or in a cloud environment that can be connected via a network.

[0027] Client terminals 23-1 to 23-N (hereinafter simply referred to as "client terminal 23") are terminals operated by users with various roles, such as the issuing company 11, the trustee 12, and officers and employees 13. Client terminal 23 provides a user interface for inputting information to the server 21 and displaying information provided by the server 21. The user interface provided by client terminal 23 may differ depending on the user's role. Client terminal 23 may be a stationary computer or a portable computer such as a smartphone or tablet.

[0028] Figure 3 shows an example configuration of the server 21 related to the trust management system in Figure 2. As shown in Figure 3, the server 21 has an input / output unit 31 that provides input and output to the user, a processing unit 32 that performs various processing, a storage unit 33 that stores various data, and a communication unit 34 that performs communication over a network. The input / output unit 31 is an input / output device such as a keyboard, mouse, and display. The processing unit 32 includes a processor such as a CPU or MPU, and realizes various processing and functions related to trust management by executing programs stored in the storage unit 33. The processing unit 32 can further perform information processing in response to information input from the user via the input / output unit 31 and information processing in response to information input via the communication unit 34. The storage unit 34 includes memory such as RAM and ROM. The storage unit 34 may further include any storage device such as a magnetic storage device or an optical storage device. The client terminal 23 has the same or similar configuration as the server device 21 shown in Figure 3, and a detailed explanation is omitted.

[0029] Next, referring to Figure 1, we will explain in detail the processing flow from "(A3) Point Input" to "(A4) Issuance of Stock Acquisition Rights" in the scheme outlined in Figure 1, using the example processing sequence shown in Figure 4. In the following, the client terminal 23 of the beneficiary designation holder will be referred to as "client terminal 23A," and the client terminal 23 of the beneficiary will be referred to as "client terminal 23B."

[0030] The authorized person, via client terminal 23A, inputs an evaluation rank for each of the officers and employees 13 who are potential beneficiaries of the trust, thereby awarding points to each officer and employee 13 (step S11). As mentioned above, these points represent the contribution of each officer and employee 13 to the improvement of the corporate value of the issuing company 11. Client terminal 23A sends the points awarded to each of the officers and employees 13 to server 21 (step S12).

[0031] The input and transmission of points for each beneficiary candidate may be carried out by a dedicated application installed on client terminal 23A, or by a general-purpose application such as a web browser running on client terminal 23A. It is also possible to carry out this by sending an email containing the points of each beneficiary candidate in the email body, or by sending an email with a data file containing the points of each beneficiary candidate attached.

[0032] Server 21 registers the points received from client terminal 23A in database 22. The point data includes information such as the trust ID, which is the trust's identification information; the beneficiary candidate ID, which is the identification information of the 13 officers and employees who are beneficiary candidates; and the points (cumulative value) awarded to the beneficiary candidates, as shown in the example data in Figure 5. Points are awarded by authorized personnel at arbitrary times such as monthly, quarterly, or semi-annually, and the point data in database 22 is updated each time points are awarded. In other words, server 21 processes the points received from client terminal 23A and adds them to the point data related to the target beneficiary candidate.

[0033] When the beneficiary determination date for the trust arrives, server 21 processes the delivery of stock acquisition rights based on the point data in database 22 (step S13). Specifically, server 21 checks for any beneficiary candidates who meet the requirements of the stock acquisition right delivery regulations (for example, a certain number of points is required to become a beneficiary), and if such beneficiary candidates exist, it selects those candidates as beneficiaries and delivers stock acquisition rights to them. Depending on the requirements of the stock acquisition right delivery regulations, all beneficiary candidates who have been awarded points may be selected as beneficiaries. The number of stock acquisition rights to be delivered is calculated according to the points awarded to that beneficiary. Upon delivery of the stock acquisition rights, the points corresponding to the number of delivered stock acquisition rights are deducted from the points in the corresponding point data in database 22.

[0034] Next, the server 21 sends a notice of issuance of stock acquisition rights, including the fact that the stock acquisition rights have been issued, to the client terminal 23B of the beneficiary who received the stock acquisition rights (step S14). The notice of issuance of stock acquisition rights may be implemented by a dedicated application installed on the client terminal 23B, or by a general-purpose application such as a web browser running on the client terminal 23B. It can also be implemented by sending an email containing the contents of the notice of issuance of stock acquisition rights in the email body, or by sending an email with a data file containing the contents of the notice of issuance of stock acquisition rights attached. The client terminal 23B displays the received notice of issuance of stock acquisition rights for the beneficiary to confirm. As a result, the beneficiary recognizes that the stock acquisition rights have been issued to them, and if they retire or resign, they can exercise the stock acquisition rights within a specified number of days (for example, 10 days) from the day following their retirement or resignation, and receive shares from the issuing company 11.

[0035] As described above, the trust management system in this example has the following functions for a stock acquisition rights delivery trust, which is a beneficiary tax trust established for stock acquisition rights with a nominal exercise price of 1 yen, including the function of receiving input from an authorized person who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the stock acquisition rights issuing company 11, and the function of delivering to each beneficiary a number of stock acquisition rights equivalent to the number of stock acquisition rights calculated according to the number of stock acquisition rights or points granted to that beneficiary.

[0036] Therefore, according to the trust management system in this example, it is possible to realize a mechanism that provides a more user-friendly incentive plan, such as one that does not incur corporate tax when introducing a trust, like an ESOP, and allows for the issuance of stock options free of charge, like a trust-type stock option. Specifically, by handling a stock option delivery trust, which is a beneficiary tax trust set up for stock options with a nominal amount such as 1 yen as the exercise price, it is easier to issue stock options free of charge compared to an ESOP that entrusts shares, making it possible to set up a trust with zero contribution. In addition, unlike shares, stock options have the accounting advantage of being able to reduce their valuation by setting performance conditions, so depending on the conditions set, it is possible to reduce the amount of accounting expenses that have been a hurdle when introducing a stock compensation system. Therefore, even in the case of paid issuance, it is possible to reduce the contribution amount when using stock options. Furthermore, while stock-based compensation systems tend to be operationally complex due to issues such as the exercise of voting rights and dividends, stock options have the advantage of simplifying compensation systems because they do not involve voting rights or dividends. In addition, stock-based compensation systems have the problem that taxes are mandatory when restrictions are lifted or when the stock options are granted, meaning the timing cannot be chosen, whereas stock options have the advantage that they are not taxed until officers and employees exercise their rights.

[0037] Furthermore, because this scheme utilizes a beneficiary-taxed trust, the issuing company is not required to pay corporate tax, does not need to create a successor trust, and can issue stock options to officers and employees in proportion to their contributions. On the other hand, this means that the book value cannot be carried over, but from another perspective, it can be said that there is an advantage in that the economic benefit can be directly calculated from the exercise price without referring to data for carrying over the book value. To explain with a concrete example, the issuing company, which is the settlor of the trust, issues stock options with an exercise price of 1 yen (here, referred to as "1 yen SO") for 1,000 yen (market value of the shares) - 1 yen (exercise price) = 999 yen, assuming that the market value of the shares is 1,000 yen. The trustee of the trust subscribes to the 1 yen SO based on the trust principal contributed by the issuing company. The 1 yen SO is issued to officers and employees in proportion to their contributions to improving the issuing company's corporate value. Officers and employees who own the 1 yen SO can receive common stock by exercising their rights within a specified period after retirement or resignation. If the market value of the shares at the time of exercising this right is 3,000 yen, the economic benefit related to retirement would be 3,000 yen (market value of shares) - 1 yen (exercise price) = 2,999 yen.

[0038] The explanation so far has been about retirement income type trusts, but as mentioned above, this scheme can also handle tax-qualified and employment income type trusts. The configuration and operation of the trust management system when handling tax-qualified and employment income type trusts are basically the same as those explained for retirement income type trusts, so a detailed explanation will be omitted. Below, we will focus on and explain matters specific to tax-qualified and employment income type trusts.

[0039] In the retirement income type, stock options are handled with an exercise condition that the rights can only be exercised within a specified period from the day following the beneficiary's retirement or resignation, whereas in the tax-qualified type, stock options are handled with a trigger clause that stipulates that the exercise price at the time of beneficiary designation must be equal to or greater than the tax-valued amount. By using such stock options with a trigger clause to meet the tax-qualified requirements, it is possible to eliminate the drawback of failing to meet the tax-qualified requirements and being subject to exercise-time taxation if the tax-valued amount is higher than the exercise price at the time the stock options are granted to the beneficiary. As a result, from the perspective of unlisted companies such as startups, there are advantages such as (1) no initial capital is required, (2) stock option delivery trusts adjusted to the lowest tax-deductible exercise price using the special method are always available, and (3) they can be delivered to officers and employees at any time.

[0040] Furthermore, while retirement income type and tax-qualified type stock options are handled with the aforementioned exercise conditions and trigger clauses, salary income type stock options are handled without such exercise conditions or trigger clauses. Also, in the salary income type, instead of the trustee of the trust delivering the stock options to the beneficiary, the trustee delivers the shares obtained by exercising the stock options, which is different from the retirement income type and tax-qualified type. Compared to ESOPs, officers and employees can choose when to exercise their rights, and therefore can choose when to be taxed. In the case of ESOPs where shares are acquired, tax is incurred at the time of receipt or, if there are restrictions on the sale of the received shares, when the restrictions are lifted, meaning that if the shares are not sold promptly thereafter, the tax may not be payable. However, due to insider trading regulations, it may not be possible to sell the shares promptly, which could lead to a situation where tax payments are difficult. In contrast, with the stock option delivery trust provided by the trust management system in this example, the timing of the exercise of the rights can be chosen in the first place, so such a situation is not anticipated.

[0041] Figure 6 shows examples of trust data when handling retirement income type, employment income type, and tax-qualified type trusts in a trust management system. The illustrated trust data has data items such as Trust ID, Settlor ID, Trustee ID, Issuer ID, Trust Type, and Trust Asset Information. The Trust ID is an ID that uniquely identifies each trust and is uniquely assigned to each trust. The Settlor ID is an ID that uniquely identifies the settlor of the trust. The Trustee ID is an ID that uniquely identifies the trustee of the trust. The Issuer ID is an ID that uniquely identifies the issuer that issues the stock options or shares of the trust. The Trust Type is information indicating whether the trust is of the retirement income type, employment income type, or tax-qualified type.

[0042] Trust property information refers to information about the stock acquisition rights that are the trust property, and includes the number of stock acquisition rights issued, the stock acquisition right issuance regulations, the beneficiary determination date, and information related to the exercise of rights. Information related to the exercise of rights includes the exercise price, the period during which the rights can be exercised, the exercise conditions, whether or not there is a trigger clause, the timing of the grant of stock acquisition rights, and the tax valuation. The exercise price is a predetermined price for exercising the stock acquisition rights, and unless there is a trigger clause, it will be a nominal amount such as 1 yen. The period during which the rights can be exercised is the period during which the stock acquisition rights can be exercised, and there are no particular restrictions for salary income type and tax-qualified type, but for retirement income type, it is limited to within a specified period from retirement or resignation. The exercise conditions are the conditions imposed for the exercise of stock acquisition rights, and in the case of retirement income type, at least a condition that limits the period during which the rights can be exercised is attached. Whether or not there is a trigger clause is "yes" for tax-qualified type, and "no" for retirement income type and salary income type. The timing of the granting of stock options and their tax valuation are determined by the date of granting the stock options (when the beneficiaries are designated) and the valuation of the shares at that time.

[0043] These data items are just examples, and various other data items may be added depending on the use and purpose of the trust. For example, for a retirement income type trust, a field may be added to record the retirement date for each beneficiary, or for a salary income type trust, a field may be added to record whether or not the rights have been exercised for each beneficiary. In this example trust management system, the above-mentioned trust data is used to perform processing according to the trust type.

[0044] Although embodiments of the present invention have been described above, these embodiments are merely illustrative and do not limit the technical scope of the present invention. The present invention can take many other embodiments, and various modifications such as omissions and substitutions can be made without departing from the spirit of the invention. These embodiments and their variations are included in the scope and spirit of the invention as described herein, and are included in the scope of the invention and its equivalents as described in the claims.

[0045] Furthermore, the present invention can be provided not only as the devices described above or as systems composed of such devices, but also as methods executed by these devices, programs for a processor to realize the functions of these devices, and storage media for storing such programs in a computer-readable manner. [Industrial applicability]

[0046] The present invention can be used in a trust management system and a trust management method related to the operation of a stock option delivery trust. [Explanation of Symbols]

[0047] 11: Issuing company, 12: Trustee, 13: Officers and employees, 21: Server, 22: Database, 23-1~23-N, 23A, 23B: Client, 31: Input / Output unit, 32: Processing unit, 33: Storage unit, 34: Communication unit

Claims

1. Regarding a stock acquisition rights delivery trust, which is a beneficiary tax trust established for stock acquisition rights with a nominal exercise price of 1 yen, the system includes a function to accept input from an authorized holder who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the issuing company of the said stock acquisition rights, and A function to deliver to the beneficiary a number of stock acquisition rights equivalent to the number of stock acquisition rights or points granted to the beneficiary, A trust management system characterized by having the following features.

2. In the trust management system described in claim 1, A trust management system characterized in that the input of the number of stock acquisition rights or points to be granted to the aforementioned beneficiary is performed in accordance with the stock acquisition rights granting regulations established in advance by the issuing company of the aforementioned stock acquisition rights.

3. In the trust management system described in claim 1, A trust management system characterized in that the aforementioned stock acquisition rights are subject to an exercise condition that allows them to be exercised only within a specified period following the day following the retirement or resignation of the beneficiary.

4. In the trust management system described in claim 1, The aforementioned stock acquisition rights are accompanied by a trigger clause stating that the exercise price at the time of beneficiary designation must be equal to or greater than the tax valuation.

5. In the trust management system described in claim 1, A trust management system characterized in that, instead of delivering the stock acquisition rights to the beneficiary, the trustee delivers shares obtained by exercising the stock acquisition rights.

6. Regarding a trust for issuing stock acquisition rights, which is a beneficiary tax trust established for stock acquisition rights with an exercise price of a nominal amount such as 1 yen, the steps include receiving input from an authorized holder who has the authority to grant the number of stock acquisition rights or points to be granted to beneficiaries who have contributed to improving the performance of the issuing company of the said stock acquisition rights, and The steps include: delivering to the beneficiary a number of stock acquisition rights equivalent to the number of stock acquisition rights or points granted to the beneficiary; A trust management method characterized by having the following features.

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