Executive compensation policy consisting solely of fixed remuneration, with an emphasis on enhancing corporate value over the medium to long term
First written in FY2022. 1 of 3 entries say "Reframed", first in FY2025. Latest entry: FY2026.
The whole theme swung hardest in 2024: 8 of 45 companies on the "Worse" side.
26 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Each director's compensation consists of basic compensation as fixed compensation and performance-linked restricted stock compensation.」
The Company continues to use a compensation structure combining fixed compensation and performance-linked restricted stock compensation. - FY2025ReframedAnnual report
「Each director's compensation consists of basic compensation as fixed compensation and performance-linked restricted stock compensation. The covered period is approximately 3 years, from 25 June 2024 to 31 May 2027. A share-price growth rate of 300% or more for the Company's common shares will constitute achievement of the numerical target.」
The compensation structure changed from the previous policy of fixed compensation only to a combination of fixed compensation and performance-linked restricted stock compensation. The performance target is a 300% share-price growth rate. - FY2022First statedAnnual report
「Given the nature of the Company's business, which requires a long period to achieve monetisation, a compensation structure linked to shareholder interests would be desirable so that directors' compensation functions adequately as an incentive to achieve sustained growth in corporate value over the medium to long term, rather than rewarding short-term results. However, the Company only began manufacturing and selling pharmaceuticals in the previous fiscal year, and it would be difficult to introduce a compensation structure linked to performance indicators until its business foundation is firmly established. Accordingly, each director will receive only basic compensation as fixed compensation.」
Describes a compensation policy consisting solely of fixed basic compensation, without performance-linked or non-monetary compensation, until the business foundation becomes stable.