Strengthening the independence and objectivity of executive compensation through the Nomination and Compensation Committee
First written in FY2019. 2 of 6 entries say "Restated". Latest entry: FY2025.
Meiji Electric Industries moved to the "Worse" side of this theme in 2025, 2 years after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 9 of 86 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「The Company has established, as an advisory body to the Board of Directors, a Nomination and Compensation Committee consisting of 3 independent outside directors. However, Sugi waki Hiroki (杉脇弘基), Representative Director and President, is included as a committee member for the formulation, operation and oversight of the succession plan for the president.」
The Nomination and Compensation Committee was described as being centered on 3 independent outside directors, while the framework under which the president is included as a committee member for the succession plan for the president was continued. - FY2023AdvancedAnnual report
「The Company has established, as an advisory body to the Board of Directors, a Nomination and Compensation Committee consisting of 4 members who are independent outside directors: Narita Ryuichi (成田龍一), chair; Okuno Nobuhiro (奥野信宏); Kito Hajime (鬼頭肇); and Mizuo Eri (水尾衣里). However, Sugi waki Hiroki (杉脇弘基), Representative Director and President, is included as a committee member for the formulation, operation and oversight of the succession plan for the president.」
The number of independent outside directors on the Nomination and Compensation Committee increased from 3 to 4, and the committee continued to be involved in the appointment and dismissal and compensation of directors and executive officers. - FY2022RestatedAnnual report
「The Company has also established, as an advisory body to the Board of Directors, a Nomination and Compensation Committee consisting of 3 independent outside directors: Narita Ryuichi (成田龍一), chair; Okuno Nobuhiro (奥野信宏); and Kito Hajime (鬼頭肇). However, Sugi waki Hiroki (杉脇弘基), Representative Director and President, is included as a committee member for the formulation, operation and oversight of the succession plan for the president.」
Continued the Nomination and Compensation Committee comprising 3 independent outside directors and the framework under which the president is included as a committee member for the succession plan for the president. - FY2021AdvancedAnnual report
「The Company has also established, as an advisory body to the Board of Directors, a Nomination and Compensation Committee consisting of 3 independent outside directors: Narita Ryuichi (成田龍一), chair; Okuno Nobuhiro (奥野信宏); and Kito Hajime (鬼頭肇). However, Sugi waki Hiroki (杉脇弘基), Representative Director and President, is included as a committee member for the formulation, operation and oversight of the succession plan for the president.」
Clarified that the Nomination and Compensation Committee's remit extends beyond the appointment and dismissal and compensation of officers to include the formulation, operation and oversight of the succession plan for the president. - FY2020RestatedAnnual report
「The Company has also established, as an advisory body to the Board of Directors, a Nomination and Compensation Committee consisting of 3 independent outside directors: Narita Ryuichi (成田龍一), chair; Okuno Nobuhiro (奥野信宏); and Kito Hajime (鬼頭肇).」
Continued the framework for strengthening the Board of Directors' independence, objectivity and accountability regarding the appointment and dismissal and compensation of officers through the Nomination and Compensation Committee, comprising 3 independent outside directors. - FY2019First statedAnnual report
「Regarding compensation and other benefits for directors, excluding directors who are Audit and Supervisory Committee members, the Board of Directors has, since fiscal 2019, referred matters to the Nomination and Compensation Committee, consisting of 3 independent outside directors, with the aim of strengthening the independence and objectivity of the Board's functions and its accountability.」
Established a Nomination and Compensation Committee consisting of 3 independent outside directors and introduced, in fiscal 2019, a framework to strengthen the Board of Directors' independence, objectivity and accountability regarding the appointment and dismissal and compensation of officers.