Executive Compensation Design Linked to Financial Performance and Shareholder Returns
First written in FY2017. 11 of 17 entries say "Advanced", first in FY2018. Latest entry: FY2026.
19 other companies' latest entry also says "Other".
- FY2026Update to performance-linked remuneration payout levelsAnnual report
「Neither Group operating profit nor Group free cash flow, the Group performance measures for the fiscal year ending March 2026, reached the scale entry value. As a result, no annual bonus was paid to the CEO, CFO, CHRO or Chair for the current fiscal year.」
For performance-linked remuneration, no annual bonuses were paid to the CEO, CFO, CHRO or Chair. Meanwhile, annual bonuses for the other executive officers were 0–12% of the maximum, and LTIP payouts were 10.7% of the maximum. - FY2025Update to performance-linked remuneration payout levelsAnnual report
「The “gate value” was not achieved for the fiscal year ending March 2025. As a result, no payments were made for the Group performance measures.」
For performance-linked remuneration, no annual bonuses were paid to the CEO, CFO or Chair because the gate value was not achieved. Meanwhile, long-term incentive remuneration amounted to 10.7% or 57.7% of the maximum payout, depending on the recipient. - FY2025-H1AdvancedAnnual report
「23 July 2024 (Note 2) 110,500 91,562,799 24 116,890 24 45,212 (Note) 1. The increase resulted from the exercise of stock acquisition rights. 2. The increase resulted from the paid issuance of new shares as restricted stock remuneration. Issue price: ¥430 per share Capital contribution amount: ¥215 per share Recipients: 8 executive officers of the company」
On 23 July 2024, the company issued 110,500 shares as restricted stock remuneration to 8 executive officers. This updated the track record of operating a scheme that links remuneration to performance and shareholder returns. - FY2024AdvancedAnnual report
「Group operating profit, one of the performance measures for the fiscal year ended March 2024, reached its maximum, resulting in a 100% payout rate for that measure. Group free cash flow, the other Group performance measure, did not reach its entry value, and no payment was made for that measure.」
For performance-linked remuneration, the operating profit measure reached its maximum, while the Group FCF measure did not reach its entry value. The annual bonus payout level for the CEO and Chair was 50% of the maximum, for a total of ¥181 million. - FY2024-Q2AdvancedAnnual report
「The increase resulted from the paid issuance of new shares as restricted stock remuneration. Issue price: ¥680 per share Capital contribution amount: ¥340 per share Recipients: 8 executive officers of the company」
On 25 July 2023, the company issued 83,000 shares as restricted stock remuneration to 8 executive officers. This updated the track record of operating a scheme that links remuneration to performance and shareholder returns. - FY2023AdvancedAnnual report
「As a result, the payout level for the current period was 50% of the maximum annual bonus payable, based on the achievement levels for the relevant performance measures. The total annual bonus paid to executive officers based on performance for the current period was ¥177 million.」
The operating profit measure reached its maximum, while the FCF measure did not reach its entry value. As a result, the annual bonus payout level was 50% of the maximum, for a total of ¥177 million. - FY2023-Q2AdvancedAnnual report
「22 July 2022 (Note 2) 117,600 91,176,999 24 116,747 24 45,070 (Note) 2. The increase resulted from the paid issuance of new shares as restricted stock remuneration. Issue price: ¥400 per share Capital contribution amount: ¥200 per share Recipients: 7 executive officers of the company」
On 22 July 2022, the company issued 117,600 shares as restricted stock remuneration to 7 executive officers, updating the track record of operating a scheme that links remuneration to share value. - FY2022Annual bonus paid; long-term incentive not paidAnnual report
「The payout level for the current fiscal year was 45% of the maximum annual bonus payable, based on the aggregate achievement levels for the relevant performance measures. The total annual bonus paid to executive officers based on performance for the current fiscal year was ¥120 million.」
The operating profit measure did not reach its entry value, while the free cash flow measure reached its maximum. After a 10% reduction due to a fatal accident, the annual bonus payout level was 45% of the maximum, for a total of ¥120 million. Meanwhile, neither LTIP measure reached its entry value for the period from April 2019 to March 2022, so no LTIP awards were paid. - FY2022-Q2AdvancedAnnual report
「The increase resulted from the paid issuance of new shares as restricted stock remuneration. Issue price: ¥665 per share Capital contribution amount: ¥332.5 per share Recipients: 7 executive officers of the company」
On 26 July 2021, the company issued 72,900 shares as restricted stock remuneration to 7 executive officers. This updated the track record of operating a scheme that links remuneration to share value. - FY2021No annual bonus or long-term incentive paidAnnual report
「Although progress was made on each of the 3 key measures in the fiscal year ended March 2021, no annual bonus was paid to any executive officer for the current fiscal year. The entry value for each performance measure was not achieved. As a result, no payments were made to any executive officer under the long-term incentive remuneration plan (LTIP).」
Although progress was made in key areas amid COVID-19, neither annual bonuses nor LTIP awards for the period from April 2018 to March 2021 were paid. - FY2021-Q2AdvancedAnnual report
「The increase resulted from the paid issuance of new shares as restricted stock remuneration.」
On 12 August 2020, the company issued 133,000 shares as restricted stock remuneration to 8 executive officers. The issue price was ¥389 per share, and the capital contribution amount was ¥194.5 per share. - FY2020No performance-linked compensation paidAnnual report
「The “gate value” was not achieved for the current fiscal year. As a result, no annual bonus was paid to any executive officer for the current fiscal year.」
The performance-linked remuneration plan remains in place, but no annual bonuses or long-term incentive remuneration were paid because the entry values for Group operating profit, free cash flow and other measures were not achieved. - FY2020-Q2AdvancedAnnual report
「The stock acquisition rights issued during the second quarter are as follows.」
Based on the resolution of 9 July 2019, the company issued stock acquisition rights covering 102,600 common shares to 8 executive officers. The exercise period runs from 25 July 2019 to 24 July 2049. - FY2019AdvancedAnnual report
「For the LTIP ending in the current fiscal year, the performance measure is cumulative total earnings per share during the performance period from April 2016 to March 2019 (Note). The actual cumulative total during the performance period was ¥339.7, versus a target of ¥364.6, resulting in a payout rate of 45% relative to the payout based on the target share price.」
The company disclosed specific performance measures and results for performance-linked executive remuneration, including the weighting of operating profit and free cash flow and the LTIP EPS target of ¥364.6 versus the actual ¥339.7. - FY2019-Q2AdvancedAnnual report
「The stock acquisition rights issued during the second quarter are as follows.」
Based on the resolution of 11 July 2018, the company issued stock acquisition rights covering 91,700 shares to 6 executive officers and 3 executive employees. - FY2018AdvancedAnnual report
「The performance measures under the annual performance-linked remuneration plans for executive officers for the fiscal years ended March 2018 and March 2019 include the following. For the CEO, COO and CFO, Group operating profit accounts for 50% and Group free cash flow for 50%. For the other executive officers, Group operating profit accounts for 25%, Group free cash flow for 25%, global SBU operating profit for 25%, and global SBU cash flow from operating activities for 25%.」
The company specified the performance measures and weightings linking executive remuneration to financial performance for the fiscal years ended March 2018 and March 2019. - FY2017First statedAnnual report
「The purpose of this policy is to ensure that each individual's base salary and incentive remuneration remain aligned with the Group's performance and shareholder returns, and reflect the individual's responsibilities and achievements in their duties.」
The remuneration policy aligns executive officers' base salary, annual bonuses and long-term incentives with Group performance, shareholder returns, responsibilities and achievements.