Seed Awarded 4.08 Billion Yen Subsidy for Contact Lens Production Expansion

MT Newswires Live11-20

Seed (TYO:7743) has been selected to receive a government subsidy of up to 4.08 billion yen to support its plan to expand production capacity for new material contact lenses.

The subsidy, part of a Ministry of Economy, Trade and Industry program, will cover a portion of the project's total investment of over 12.2 billion yen, according to its Tokyo bourse filing on Thursday.

As a condition of the grant, the company has committed to increasing total employee salaries by 5.5% and officer compensation by 5.0% by the fiscal year ending March 2031.

The new production facilities funded by this initiative are scheduled to become operational in the fiscal year ending March 2028.

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