Reform of the officer compensation system to increase performance linkage
First written in FY2016. 18 of 29 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2024: 2 of 13 companies on the "Worse" side.
4 other companies' latest entry also says "Other".
- FY2026-H1Further Decline in Shares Held in TrustAnnual report
「At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥106 million and 115,970 shares, respectively. At the end of the current interim consolidated accounting period, they were ¥90 million and 98,197 shares, respectively.」
Operation of the stock delivery trust for officers has continued, but the shares remaining in the trust decreased from 115,970 to 98,197, and the carrying amount decreased from ¥106 million to ¥90 million. - FY2025-H1Further Decline in Shares Held in TrustAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥147 million and 80,190 shares, respectively. At the end of the current interim consolidated accounting period, they were ¥106 million and 57,985 shares, respectively.」
Operation of the stock delivery trust for officers has continued, but trust-held shares decreased from 80,190 to 57,985, and the carrying amount decreased from ¥147 million to ¥106 million. - FY2024RestatedAnnual report
「• A stock delivery trust has been introduced as non-monetary compensation. Points are awarded to directors at the end of the fiscal year in accordance with the company’s stock delivery rules, and company shares are delivered through the trust according to the points awarded. Shares are delivered when the director leaves office. • Fixed compensation accounts for approximately 90% of each individual’s total compensation and other remuneration, while non-monetary compensation accounts for approximately 10%.」
The compensation structure consisting of a stock delivery trust, approximately 90% fixed compensation and approximately 10% non-monetary compensation has been maintained. - FY2024-Q3RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥147 million and 80,190 shares, respectively. At the end of the third quarter of the current consolidated fiscal year, they were ¥147 million and 80,190 shares, respectively.」
Operation of the stock delivery trust for officers has continued, with 80,190 trust-held shares and a carrying amount of ¥147 million, unchanged from the end of the previous consolidated fiscal year. - FY2024-Q2RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥147 million and 80,190 shares, respectively. At the end of the second quarter of the current consolidated fiscal year, they were ¥147 million and 80,190 shares, respectively.」
Operation of the stock delivery trust for officers has continued, with 80,190 trust-held shares and a carrying amount of ¥147 million, unchanged from the end of the previous consolidated fiscal year. - FY2024-Q1RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥147 million and 80,190 shares, respectively. At the end of the first quarter of the current consolidated fiscal year, they were ¥147 million and 80,190 shares, respectively.」
Operation of the stock delivery trust for officers has continued, with 80,190 trust-held shares and a carrying amount of ¥147 million, unchanged from the end of the previous consolidated fiscal year. - FY2023ReframedAnnual report
「At the 77th ordinary general meeting of shareholders held on 27 June 2023, a partial revision to the system was approved. In principle, the timing of delivery of the company’s shares to directors was changed from when they leave office to while they remain in office, subject to transfer restrictions until they leave office. At the end of the current consolidated fiscal year, the carrying amount and number of the treasury shares were ¥147 million and 80,190 shares, respectively.」
Under the stock compensation system for officers, the timing of share delivery was changed from when directors leave office to while they remain in office, revising the design of the system. The shares remaining in the trust also decreased from 92,384 to 80,190, and the carrying amount decreased from ¥169 million to ¥147 million. - FY2023-Q3RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥169 million and 92,384 shares, respectively. At the end of the third quarter of the current consolidated fiscal year, they were ¥163 million and 88,780 shares, respectively.」
The stock compensation system for officers using a trust has continued. Trust-held shares decreased from 92,384 to 88,780, and the carrying amount decreased from ¥169 million to ¥163 million. - FY2023-Q2Further Decline in Shares Held in TrustAnnual report
「At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥169 million and 92,384 shares, respectively. At the end of the second quarter of the current consolidated fiscal year, they were ¥163 million and 88,780 shares, respectively.」
The stock compensation system for officers using a trust has continued, but the shares remaining in the trust decreased from 92,384 to 88,780, and the carrying amount decreased from ¥169 million to ¥163 million. - FY2023-Q1RestatedAnnual report
「At the end of the previous consolidated fiscal year, the carrying amount and number of the treasury shares were ¥169 million and 92,384 shares, respectively. At the end of the first quarter of the current consolidated fiscal year, they were ¥169 million and 92,384 shares, respectively.」
The stock compensation system for officers using a trust has continued, with 92,384 trust-held shares and a carrying amount of ¥169 million, unchanged from the end of the previous consolidated fiscal year. - FY2022RestatedAnnual report
「• A stock delivery trust has been introduced as non-monetary compensation. Points are awarded to directors at the end of the fiscal year in accordance with the company’s stock delivery rules, and company shares are delivered through the trust according to the points awarded. Shares are delivered when the director leaves office. • Fixed compensation accounts for approximately 90% of each individual’s total compensation and other remuneration, while non-monetary compensation accounts for approximately 10%.」
The compensation structure, including a stock delivery trust and consisting of approximately 90% fixed compensation and approximately 10% non-monetary compensation, has been maintained. - FY2022-Q3RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. The carrying amount and number of the treasury shares were ¥169.986 million and 92,384 shares, respectively, at the end of the previous consolidated fiscal year, and ¥169.986 million and 92,384 shares, respectively, at the end of the third quarter of the current consolidated fiscal year.」
The stock compensation system for officers using a trust has continued, with 92,384 trust-held shares and a carrying amount of ¥169.986 million, unchanged from the end of the previous consolidated fiscal year. - FY2022-Q2RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. The carrying amount and number of the treasury shares were ¥169.986 million and 92,384 shares, respectively, at the end of the previous consolidated fiscal year, and ¥169.986 million and 92,384 shares, respectively, at the end of the second quarter of the current consolidated fiscal year.」
The stock compensation system for officers using a trust has continued, with 92,384 trust-held shares and a carrying amount of ¥169.986 million, unchanged from the end of the previous consolidated fiscal year. - FY2022-Q1RestatedAnnual report
「We have introduced a stock compensation system using a trust for our directors, excluding directors who serve as audit and supervisory committee members and outside directors.」
The stock compensation system for officers using a trust has continued. The shares remaining in the trust totaled 92,384, with a carrying amount of ¥169.986 million, unchanged from the end of the previous consolidated fiscal year. - FY2021AdvancedAnnual report
「• Directors’ compensation is fixed compensation and, within the compensation limit determined at the general meeting of shareholders, is decided by the representative director and president, who has been delegated authority by the Board of Directors, taking into account each director’s position and duties. • A stock delivery trust has been introduced as non-monetary compensation. Points are awarded to directors at the end of the fiscal year in accordance with the company’s stock delivery rules, and company shares are delivered through the trust according to the points awarded. Shares are delivered when the director leaves office. • Fixed compensation accounts for approximately 90% of each individual’s total compensation and other remuneration, while non-monetary compensation accounts for approximately 10%.」
The Board of Directors resolved the policy for determining individual compensation in February 2021 and specified the compensation structure, including a stock delivery trust, consisting of approximately 90% fixed compensation and approximately 10% non-monetary compensation. - FY2021-Q3RestatedAnnual report
「The company shares remaining in the trust are recorded as treasury shares under net assets at their carrying amount in the trust, excluding incidental expenses. The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥169.986 million and 92,384 shares, respectively, at the end of the third quarter of the current consolidated fiscal year.」
The stock compensation system for officers using a trust has continued. The trust-held shares totaled 92,384, with a carrying amount of ¥169.986 million, remaining below the levels at the end of the previous consolidated fiscal year. - FY2021-Q1Decrease in the number and carrying amount of trust-held sharesAnnual report
「The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥169.986 million and 92,384 shares, respectively, at the end of the first quarter of the current consolidated fiscal year.」
The stock compensation system for officers using a trust has continued, but the company shares remaining in the trust decreased from 98,000 to 92,384, and the carrying amount decreased from ¥180.320 million to ¥169.986 million. - FY2020-Q3RestatedAnnual report
「The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the third quarter of the current consolidated fiscal year.」
Operation of the stock compensation system for officers using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million, unchanged from the end of the previous consolidated fiscal year. - FY2020-Q2RestatedAnnual report
「The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the second quarter of the current consolidated fiscal year.」
Operation of the stock compensation system for officers using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million, unchanged from the end of the previous consolidated fiscal year. - FY2020-Q1RestatedAnnual report
「The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the first quarter of the current consolidated fiscal year.」
Operation of the stock compensation system for officers using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million, unchanged from the end of the previous consolidated fiscal year. - FY2019RestatedAnnual report
「At the end of the current consolidated fiscal year, the carrying amount of the treasury shares was ¥180.320 million and the number of shares was 98,000.」
Operation of the stock compensation system using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million. - FY2019-Q3RestatedAnnual report
「We have introduced a stock compensation system using a trust for our directors, excluding outside directors. In principle, the directors receive the company’s shares when they leave office. The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the third quarter of the current consolidated fiscal year.」
Operation of the stock compensation system using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million. - FY2019-Q2RestatedAnnual report
「We have introduced a stock compensation system using a trust for our directors, excluding outside directors. In principle, the directors receive the company’s shares when they leave office. The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the second quarter of the current consolidated fiscal year.」
Operation of the stock compensation system using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million, unchanged from the end of the previous consolidated fiscal year. - FY2019-Q1RestatedAnnual report
「We have introduced a stock compensation system using a trust for our directors, excluding outside directors. In principle, the directors receive the company’s shares when they leave office. The carrying amount and number of the treasury shares were ¥180.320 million and 98,000 shares, respectively, at the end of the previous consolidated fiscal year, and ¥180.320 million and 98,000 shares, respectively, at the end of the first quarter of the current consolidated fiscal year.」
Operation of the stock compensation system using a trust has continued, with 98,000 trust-held shares and a carrying amount of ¥180.320 million, unchanged from the end of the previous consolidated fiscal year. - FY2018-Q2AchievedAnnual report
「Pursuant to a resolution of the 71st ordinary general meeting of shareholders held on 28 June 2017, we have introduced a stock compensation system using a trust for our directors, excluding outside directors. At the end of the second quarter of the current consolidated fiscal year, the carrying amount of the treasury shares was ¥180.320 million and the number of shares was 196,000.」
Regarding the stock compensation system that had progressed to approval by the general meeting of shareholders in the previous filing, the system using a trust was actually introduced, and the trust-held shares were also recorded. - FY2017AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 May 2017, we resolved to review the officer compensation system and introduce a stock compensation system using a trust for our directors, excluding outside audit & supervisory board members, as defined below. The proposal to introduce the system was submitted to the 71st ordinary general meeting of shareholders held on 28 June 2017 and was approved and adopted at that meeting.」
As a reform of the compensation system following the abolition of the officer retirement benefit system, the introduction of a stock compensation system using a trust progressed through approval by the Board of Directors and the general meeting of shareholders. The trust funding limit was set at ¥200 million, and the trust period was scheduled to run from August 2017 to August 2027. - FY2017-Q2AchievedAnnual report
「At a meeting of the Board of Directors held on 10 May 2016, we resolved to abolish the officer retirement benefit system upon the conclusion of the ordinary general meeting of shareholders held on 28 June 2016, and the proposal for lump-sum payment of retirement benefits was approved at that meeting. Accordingly, the provision for officer retirement benefits was fully reversed, and the unpaid amount of ¥60.651 million relating to the lump-sum payment will be paid when each officer leaves office, so it has been recorded under “Other” in non-current liabilities.」
The abolition of the officer retirement benefit system was approved at the general meeting of shareholders, and the provision was fully reversed, completing implementation of the abolition. - FY2017-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 May 2016, we resolved to abolish the officer retirement benefit system upon the conclusion of the ordinary general meeting of shareholders held on 28 June 2016, and the proposal for lump-sum payment of retirement benefits was approved at that meeting.」
Regarding the officer compensation system reforms described in the previous filing, the abolition of the officer retirement benefit system was resolved and approved, and implementation has moved to the concrete execution stage. - FY2016First statedAnnual report
「As part of reforms to strengthen corporate governance and further enhance corporate value, we will introduce an officer compensation system with a stronger link to performance for directors other than outside directors, following the abolition of the officer retirement benefit system.」
It states that the officer retirement benefit system was abolished and a compensation system with a stronger link to performance would be introduced. The annual compensation limits were revised to no more than ¥212 million for directors and no more than ¥48 million for audit & supervisory board members.