Executive Compensation Linked to Medium-Term Management Plan Targets and the Compensation Advisory Committee
First written in FY2019. . Latest entry: FY2026.
The whole theme swung hardest in 2020: 4 of 32 companies on the "Worse" side.
19 other companies' latest entry also says "Other".
- FY2026Compensation, including share-based compensation, paid despite performance targets not being metAnnual report
「Adjusted consolidated operating profit after depreciation: target ¥2,768 million; actual ¥2,567 million」
Adjusted consolidated operating profit after depreciation was ¥2,567 million versus a target of ¥2,768 million. Compensation for directors and others included ¥31.375 million in non-monetary compensation and other items, and the Company disclosed total share-based compensation of ¥35.464 million. - FY2025Incentive compensation, including share-based compensation, paid after performance metric exceeded targetAnnual report
「Adjusted consolidated operating profit after depreciation: target ¥2,524 million; actual ¥2,647 million」
Adjusted consolidated operating profit after depreciation was ¥2,647 million, ¥123 million above the target of ¥2,524 million. Compensation including restricted stock compensation was recorded as non-monetary compensation and other compensation. - FY2025-H1Disposal of treasury shares as restricted stock compensationAnnual report
「In addition, based on a resolution of the board of directors meeting held on 21 June 2024, the Company disposed of 56,975 treasury shares as restricted stock compensation on 12 July 2024.」
Following the resolution to introduce a restricted stock compensation plan, the Company disposed of 56,975 treasury shares as compensation on 12 July 2024. - FY2024Incentive compensation paid after performance metric exceeded targetAnnual report
「Adjusted consolidated operating profit after depreciation: target ¥1,243 million; actual ¥1,664 million」
Adjusted consolidated operating profit after depreciation was ¥1,664 million, exceeding the target of ¥1,243 million by ¥421 million. Total incentive compensation was ¥22.500 million, changing from the previous fiscal year, when it was paid despite the target not being met, to payment when the target was exceeded. - FY2023Incentive compensation paid despite performance metric target being missedAnnual report
「Adjusted consolidated operating profit after depreciation: target ¥1,106 million; actual ¥579 million」
Adjusted consolidated operating profit after depreciation was ¥579 million versus a target of ¥1,106 million. Meanwhile, incentive compensation for directors and others totaled ¥15.500 million, and payment continued. - FY2022Performance-Based Compensation PaidAnnual report
「Adjusted consolidated operating profit after depreciation: target ¥2,393 million; actual ¥1,811 million」
Adjusted consolidated operating profit after depreciation was ¥1,811 million versus a target of ¥2,393 million. Meanwhile, total incentive compensation of ¥32.300 million was recorded for directors and directors serving as Audit and Supervisory Committee members, marking a change from the previous fiscal year, when payment was withheld. - FY2021Performance-linked compensation not paidAnnual report
「Although profit was recorded as sales recovered in the second half of the current consolidated fiscal year, the Company decided not to pay performance-linked compensation because the impact of COVID-19 remained uncertain.」
Adjusted consolidated operating profit after depreciation was ¥947 million versus a target of ¥0, but the Company decided not to pay performance-linked compensation because of uncertainty over the impact of the infectious disease. - FY2020Performance metric target missed and committee functions expandedAnnual report
「The Governance Committee met on 25 March 2020 to discuss the monthly base compensation for newly appointed executive officers and submitted its recommendations to the representative director and president. Adjusted net income after depreciation: target ¥994 million; actual ¥593 million」
The Compensation Advisory Committee changed to a Governance Committee with additional functions for nominations and protecting the interests of minority shareholders. Meanwhile, actual performance on the metric for performance-linked compensation was below target. - FY2019First statedAnnual report
「Compensation under the standard model consists of fixed compensation and performance-linked compensation. The performance-linked portion is clearly linked to the targets in the medium-term management plan, with the payment amounts when targets are met or missed and the differences by position specified for each medium-term management plan. Under the current medium-term management plan, adjusted net income after depreciation is used as the performance metric, and the total ceiling for performance-linked compensation is calculated and allocated based on the standard model. Adjusted net income after depreciation: target ¥1,009 million; actual ¥1,023 million」
The Company provided detailed disclosure of its policy to structure executive compensation as fixed compensation and performance-linked compensation tied to the targets in the medium-term management plan. It also stated that it planned to establish an independent Compensation Advisory Committee to improve the objectivity and transparency of the compensation decision-making process.