ANA will offer 100 shares worth about $20 each to about 70% of nearly 45,000 employees in November, following major Japanese firms such as Omron and Sony Group.
Stock-based compensation, mainly for managers, became popular after former Prime Minister Shinzo Abe introduced corporate governance reforms nearly 10 years ago that made such incentives more tax deductible.
Cross-shareholdings have drawn criticism from international investors and companies are under pressure from the regulator to unwind them as soon as possible.
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