Abolition of the Executive Retirement Benefit System and Discontinuation Payments
First written in FY2018-Q1. 1 of 2 entries say "Achieved", first in FY2018-Q1. Latest entry: FY2018-Q3.
1 other company's latest entry also says "Cited as achieved".
- FY2018-Q3Cited as achievedAnnual report
「At a meeting of the board of directors held on 12 May 2017, the company resolved to abolish the directors' and corporate auditors' retirement benefit scheme (the “Scheme”). At the 45th annual general meeting of shareholders held on 27 June 2017, it was resolved to make lump-sum payments to incumbent directors and corporate auditors based on their periods of service up to the abolition of the Scheme. Accordingly, during the first quarter accounting period, the company reversed the provision for directors' and corporate auditors' retirement benefits. The unpaid amount of ¥259.343 million arising from the lump-sum payments as of the end of the third quarter accounting period is presented as long-term accounts payable under non-current liabilities.」
The discontinuation of the program and cessation of payments implemented in the first quarter are cited again in the additional information, with the unpaid amount of ¥259.343 million presented as long-term accounts payable. - FY2018-Q1AchievedAnnual report
「At a meeting of the board of directors held on 12 May 2017, the company resolved to abolish the directors' and corporate auditors' retirement benefit scheme (the “Scheme”). At the 45th annual general meeting of shareholders held on 27 June 2017, it was resolved to make lump-sum payments to incumbent directors and corporate auditors based on their periods of service up to the abolition of the Scheme. Accordingly, during the first quarter accounting period, the company reversed the provision for directors' and corporate auditors' retirement benefits and presented the unpaid amount of ¥259.343 million arising from the lump-sum payments as long-term accounts payable under non-current liabilities.」
The board of directors resolved to abolish the Scheme, and the annual general meeting of shareholders resolved to make lump-sum payments to incumbent officers. Accordingly, the company reversed the provision for directors' and corporate auditors' retirement benefits and presented ¥259.343 million as long-term accounts payable.