Kasumigaseki Capital has finalised denomination choices and redemption rules for its shareholder hotel vouchers, including transferability and the ability to cover the full accommodation charge. The October 5 disclosure supplies operating details for the points-to-vouchers switch already announced July 3. [S01] [S02]
The July decision had deferred the eligible hotel list and use instructions. The later announcement therefore advances the programme’s implementation; it is not the first announcement of the switch or the award tiers.
Award values, denomination choices and booking limits
The final disclosure distinguishes the total award from the individual vouchers used to spend it. For holders of 100 to 199 shares, its tenure schedule ranges from JPY10,000 in the first eligible year to JPY20,000 from the fifth year onward, subject to the stated continuity conditions. That total may then be divided into the selected denominations. [S01]
Published hotel-voucher schedule for holders of 100–199 shares
Full award face value at the 100–199-share tier by the issuer’s holding-tenure categories; this is separate from the denominations into which an award is split.
JPY
Tap or hover for details. All values are also available in the data table.
Source
The issuer’s published tenure schedule, not a calendar time series or claim that every category was paid in 2026. Long-hold treatment requires continuous qualifying holdings and the same shareholder number; the issuer counts the first holding year from August 2025. These are award totals, not the face value of every individual voucher.
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| Category | Scheduled full award face value |
|---|---|
| First eligible year | 10,000 JPY |
| Second year | 11,000 JPY |
| Third year | 12,000 JPY |
| Fourth year | 13,000 JPY |
| Fifth year onward | 20,000 JPY |
The issuer gives a JPY100,000 example: recipients can choose ten JPY10,000 vouchers or two JPY50,000 vouchers. If no selection is made, the default is JPY10,000 units with JPY1,000 units for the remainder. The example does not establish a complete menu of every available denomination. [S01]
Guidance is planned for early November, with choices accepted from November through December 31, 2026. Selected vouchers are to be sent from December; default vouchers are planned for late January 2027.
Voucher codes work on designated FHG HOTELS and UMITO booking sites. They can cover the full accommodation charge, with no per-stay amount or voucher-count limit, and can combine with fav points. They are transferable, but unused excess is neither returned as change nor carried forward. [S01]
Other booking platforms and telephone reservations do not qualify. Applying a voucher after a booking has already been paid requires cancelling and rebooking, with no assurance of retaining the same price.
The list names 15 FHG properties and five UMITO properties, including future openings and reservation dates. It is not a list of 20 hotels all operating at announcement. UMITO also limits inventory available for voucher bookings.
The deadline is December 31, 2027 for making the booking, rather than for completing the stay. A later stay can be reserved before expiry, but cancellation or change after expiry causes the discount to lapse. [S01]
Previously carried shareholder points have a separate November 2, 2026-February 28, 2027 exchange window, including WILLsCoin. The older programme page still contains provisional denomination wording; the dated October 5 PDF provides the final terms. [S01] [S03]
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Emma Carter
Emma Carter covers retail, e-commerce and the gift card shopping experience for Gift Card News.