Performance-linked director compensation structure
First written in FY2018. 2 of 4 entries say "Restated". Latest entry: FY2022.
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- FY2022ReframedAnnual report
「Our performance compensation does not constitute performance-linked compensation as defined in Article 98-5, Item 2 of the Ordinance for Enforcement of the Companies Act and the Cabinet Office Ordinance Partially Amending the Ordinance on Disclosure of Corporate Affairs and Other Matters, and is treated as part of fixed compensation.」
Clarified that, although director compensation had been described as performance-linked and incentive-focused, performance compensation does not constitute performance-linked compensation for disclosure purposes and is part of fixed compensation. - FY2021RestatedAnnual report
「Our basic policy is to design director compensation as an incentive-focused structure linked to performance in order to achieve sustained growth in corporate value, and to contribute to improved performance by appropriately evaluating each director based on his or her responsibilities when determining individual compensation.」
Reaffirmed the director compensation structure’s focus on alignment with performance and the evaluation policy based on responsibilities and contributions. - FY2019RestatedAnnual report
「The compensation structure for directors has abolished retirement bonuses and executive bonuses and adopted a monthly compensation system with a stronger link to performance. Specifically, performance compensation, with the amount calculated based on the previous period’s performance, is added to basic compensation determined according to position to determine fixed compensation, or monthly compensation.」
Reaffirmed the monthly director compensation structure consisting of basic compensation and performance compensation that takes into account the previous period’s performance and other factors. - FY2018First statedAnnual report
「The compensation structure for directors has abolished retirement bonuses and executive bonuses and adopted a monthly compensation system with a stronger link to performance. Specifically, performance-linked compensation is added to basic compensation determined according to position, with the amount of performance compensation calculated based on the previous period’s performance.」
Stated the policy of adding performance compensation based on the previous period’s performance to basic compensation in the director compensation structure.