Performance-linked executive bonuses tied to net income and dividend growth rate
First written in FY2019. . Latest entry: FY2025.
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- FY2025Payment of ¥181 million in performance-linked bonusesAnnual report
「Net income for the fiscal year was ¥32,386 million, a decrease of 20.3% from the previous fiscal year.」
For performance-linked bonuses based on single-year net income attributable to owners of the parent, the company recorded ¥181 million in performance-linked compensation based on net income of ¥32,386 million. - FY2024Payment of ¥220 million in performance-linked bonusesAnnual report
「Net income for the fiscal year was ¥40,638 million, an increase of 19.0% from the previous fiscal year. No specific target was set because the total amount of bonuses paid is determined according to single-year net income.」
Based on net income of ¥40,638 million, the company paid ¥220 million in performance-linked compensation to directors. - FY2022Payment of ¥200 million in performance-linked bonusesAnnual report
「Net income for the fiscal year was ¥27,769 million, an increase of 49.6% from the previous fiscal year.」
The company stated that it paid ¥200 million in performance-linked compensation based on net income of ¥27,769 million, using net income as the performance metric. - FY2021Payment of ¥182 million in performance-linked bonusesAnnual report
「Net income for the fiscal year was ¥18,564 million, a decrease of 20.6% from the previous fiscal year.」
The company stated that it paid ¥182 million in performance-linked compensation to directors based on net income of ¥18,564 million, using net income as the performance metric. - FY2020Payment of ¥215 million in performance-linked bonusesAnnual report
「Total compensation and other payments to directors, excluding outside directors, amounted to ¥385 million, of which ¥215 million was performance-linked compensation.」
Based on net income of ¥23.3 billion, down 29.8% year on year, the company recorded ¥215 million in performance-linked compensation. No change to the calculation policy itself was disclosed. - FY2019First statedAnnual report
「Bonuses are positioned as a short-term incentive. Because net income attributable to owners of the parent is an important management metric and also a source of dividends, the company uses single-year net income attributable to owners of the parent (hereinafter, “net income”) as the metric in order to maintain a shareholder perspective in management. Specifically, the total amount paid is determined by taking into account the number of eligible recipients and the dividend growth rate, subject to a maximum calculated by multiplying each fiscal year’s net income by 1/50 of the payout ratio (%). Individual allocations are determined according to position and responsibilities, and the amount is calculated by increasing or decreasing a specified proportion based on performance. The amount is then determined by the Board of Directors after obtaining the views of outside directors.」
The company disclosed a calculation method for director bonuses using single-year net income attributable to owners of the parent, the payout ratio and the dividend growth rate. Net income for the fiscal year was ¥33.4 billion, up 23.3% year on year, and performance-linked compensation amounted to ¥221 million.