Discontinuation of the director retirement benefit plan and introduction of a restricted stock compensation plan
First written in FY2017. 5 of 10 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2023.
Osaka Organic Chemical Industry moved to the "Worse" side of this theme in 2024, 1 year before the typical company in this theme (2025).
The whole theme swung hardest in 2024: 3 of 32 companies on the "Worse" side.
0 other companies' latest entry also says "Worsened".
- FY2023WorsenedAnnual report
「Calculated based on the year-on-year change in consolidated performance, including revenue, operating profit and EBITDA, which are key management indicators, to clarify accountability for single-year results. The target for consolidated performance in the current fiscal year was 103% year on year, while the actual result was 74%.」
Actual consolidated performance for the current fiscal year was 74%, against the 103% target for directors' annual bonuses. The actual result for performance-linked compensation declined from 113% in the previous fiscal year. - FY2022AdvancedAnnual report
「The performance targets are a 3-year average consolidated ROE of at least 10.0% and a 3-year average consolidated operating margin of at least 13.5% before applying the revenue recognition standard, in order to align them with the targets of the Second Five-Year Medium-Term Management Plan. Actual results for the current fiscal year were consolidated ROE of 11.9% and a consolidated operating margin of 15.8% before applying the revenue recognition standard.」
The Company set a 3-year average ROE of at least 10.0% and an operating margin of at least 13.5%, aligned with the Second Medium-Term Management Plan, as evaluation metrics for performance-linked stock compensation, and disclosed actual results for the current fiscal year of 11.9% ROE and 15.8% operating margin. - FY2021ReframedAnnual report
「The Company abolished medium-term performance-linked bonuses from the fiscal year ending November 2022 and introduced performance-linked stock compensation granted retrospectively. Under the performance-linked stock compensation plan, the initial performance evaluation period is the 3-year period from the fiscal year ending November 2022 through the fiscal year ending November 2024. The performance targets for the initial evaluation period will use the 3-year average consolidated ROE and 3-year average consolidated operating margin, which are key indicators in the medium-term management plan.」
The Company restructured the plan by abolishing medium-term performance-linked bonuses and introducing performance-linked stock compensation granted retrospectively, evaluating ROE and operating margin over the 3-year period beginning with the fiscal year ending November 2022. Under the previous plan, the 3-year average ROE was 11.1% and the operating margin was 15.0%, exceeding the medium-term targets of at least 10% ROE and at least 13.5% operating margin. - FY2020AdvancedAnnual report
「The target for consolidated performance in the current fiscal year was 103% year on year, while the actual result was 113%. The Company will introduce medium-term performance-linked compensation from the fiscal year ending November 2021.」
The actual result for the performance-linked metric in director compensation was 113% against a target of 103% year on year. The Company also stated its policy of introducing medium-term performance-linked compensation from the fiscal year ending November 2021. - FY2020-Q3RestatedAnnual report
「The Company has also introduced a restricted stock compensation plan to provide an incentive for the sustainable enhancement of corporate value and to promote greater value sharing with shareholders.」
Reiterates the introduction of a restricted stock compensation plan aimed at sustainably enhancing corporate value and sharing value with shareholders. - FY2019Disclosure of performance-linked resultsAnnual report
「Director compensation consists of fixed monthly compensation, bonuses calculated based on the year-on-year change in single-year consolidated performance, including revenue, operating profit and EBITDA, as performance-linked compensation, and restricted stock compensation. The target for consolidated performance in the current fiscal year was 103% year on year, while the actual result was 92%.」
The Company disclosed that director compensation, including restricted stock compensation, is based on the year-on-year changes in single-year revenue, operating profit and EBITDA, with an actual result of 92% against the current year's target of 103%. - FY2018AdvancedAnnual report
「The Company decided to pay bonuses to directors other than outside directors as short-term incentives based on single-year consolidated performance and other factors. It also introduced a restricted stock compensation plan as stock-based compensation, which was approved at the 71st Annual General Meeting of Shareholders held on 27 February 2018.」
In addition to introducing a restricted stock compensation plan, the Company paid bonuses to directors based on single-year consolidated performance and other factors. The annual restricted stock compensation amounted to 4,200 shares. - FY2018-Q2AdvancedAnnual report
「Based on a resolution at a meeting of the Board of Directors held on 27 February 2018, the Company disposed of treasury shares as restricted stock compensation. As a result of this disposal, treasury shares decreased by ¥7.083 million, or 4,200 shares.」
Disposed of 4,200 treasury shares under the restricted stock compensation plan. - FY2018-Q1AdvancedAnnual report
「Liabilities decreased by ¥399 million from the end of the previous consolidated fiscal year to ¥9.381 billion. This was mainly due to an increase in accounts payable, decreases in accrued corporate taxes and other liabilities, and a decrease in the provision for directors' retirement benefits.」
In the first quarter after the review of the director compensation system, the provision for directors' retirement benefits decreased from ¥478.122 million to ¥12.802 million, and ¥36.545 million was recorded in the income statement as a reversal of the provision. - FY2017First statedAnnual report
「At a meeting of the Board of Directors held on 11 January 2018, the Company reviewed its director compensation system and resolved to introduce a restricted stock compensation plan. A proposal concerning the plan was submitted to and approved at the 71st Annual General Meeting of Shareholders held on 27 February 2018. The plan is intended to provide an incentive for the sustainable enhancement of corporate value and to promote greater value sharing with shareholders. The total amount of monetary compensation claims to be granted under the plan is capped at ¥10 million per year, and the total number of common shares to be issued or disposed of under the plan is capped at 10,000 shares per year.」
As part of the review of the director compensation system, the Company abolished the directors' retirement gratuity plan at the conclusion of the Annual General Meeting of Shareholders held on 27 February 2018 and introduced a restricted stock compensation plan for directors other than outside directors, capped at ¥10 million and 10,000 shares per year.