Introduction of a BIP Trust for Executive Share Compensation
First written in FY2017. 4 of 10 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2025.
4 other companies' latest entry also says "Raised".
- FY2025RaisedAnnual report
「The company has introduced a share-based compensation plan under which company shares are delivered to directors and executive officers of the company and 5 major operating companies based on their roles and achievement of performance targets and other objectives.」
The company presented a proposal to expand the share-based compensation plan's coverage from 2 to 5 major operating companies and announced plans to increase the trust funding cap to ¥7 billion. The changes are subject to shareholder approval. - FY2023AdvancedAnnual report
「The performance-linked coefficient based on achievement rates for performance targets and other targets relating to each performance indicator was 68%.」
For share-based compensation during the second medium-term management plan period, the performance-linked coefficient was finalized based on operating profit, free cash flow, net debt-to-equity, ROE, total payout ratio and CO2 emissions reductions. - FY2021ReframedAnnual report
「To further align the company's medium- to long-term management strategy with its compensation system and promote initiatives toward a sustainable society, the company revised its share-based compensation plan for directors who are not Audit & Supervisory Committee members and executive officers, excluding outside directors and non-residents, to make it performance-linked.」
The BIP trust was revised to a performance-linked plan, incorporating performance, financial, shareholder returns, CO2 emissions reduction and other metrics for FY2020–FY2022. - FY2021-Q3AdvancedAnnual report
「The figure includes 8,184,900 shares held by the executive compensation BIP trust, representing 81,849 voting rights.」
The number of shares held by the executive compensation BIP trust was disclosed as 8,184,900, indicating the operating status of the expanded plan. - FY2020RaisedAnnual report
「From the close of the 10th Annual General Meeting of Shareholders, held on 25 June 2020: company contributions to the trust capped at ¥1.5 billion; shares awarded to eligible recipients capped at 6 million.」
For the BIP trust, the company's contribution cap was increased from ¥600 million to ¥1.5 billion, and the share cap was increased from 1.2 million shares to 6 million shares. - FY2020-Q3RestatedAnnual report
「The figure includes 1,000,300 shares held by the executive compensation BIP trust, representing 10,003 voting rights.」
The executive compensation BIP trust remained in operation, and the number of shares held at the end of the quarter was disclosed. - FY2019AdvancedAnnual report
「Of the 1,255,800 points available for delivery at the end of the previous consolidated fiscal year, company shares and other benefits corresponding to 60,530 points were delivered to eligible recipients during the current consolidated fiscal year.」
Under the executive compensation BIP trust, shares and other benefits corresponding to some of the points awarded in the previous fiscal year were delivered. - FY2018RestatedAnnual report
「The company adopted an equity-settled Board Incentive Plan (BIP) trust. Directors and others are awarded a predetermined number of points at a set time each year according to their roles, and, in principle, company shares or other benefits are delivered based on those points after 3 years have elapsed from the award date.」
The BIP trust for executive compensation covering FY2017 through FY2019 remains in operation. - FY2018-Q3AdvancedAnnual report
「The company has adopted an equity-settled Board Incentive Plan (BIP) trust as a share-based compensation plan for directors of the company and 3 core operating companies, excluding outside directors and non-residents, and for executive officers who do not concurrently serve as directors, excluding non-residents.」
For the BIP trust covering FY2017 through FY2019, the trust held 1,255,800 shares at the end of the quarter, and the company recognized ¥113 million in share-based compensation transactions. - FY2017First statedAnnual report
「The company adopted a Board Incentive Plan (BIP) trust for executive compensation, covering the 3 fiscal years from FY2017 through FY2019. Depending on their roles, directors and others receive company shares, or cash equivalent to the proceeds from the sale of part of the shares to be delivered.」
The company introduced a share-based compensation plan covering FY2017–FY2019, with a trust funding cap of ¥3 billion, a cap of 1.2 million company shares, and a combined cap of 4.8 million shares for the core operating companies.