Abolition of the Executive Retirement Allowance Plan and Lump-Sum Payments
First written in FY2017-Q1. 1 of 2 entries say "Achieved", first in FY2017-Q2. Latest entry: FY2017-Q2.
20 other companies' latest entry also says "Achieved".
- FY2017-Q2AchievedAnnual report
「Accordingly, the provision for directors' retirement bonuses was reversed, and the unpaid portion of the lump-sum payments was recorded under Other current? liabilities as Other under fixed liabilities.」
Following the resolution to abolish the directors' retirement bonus system, the provision was reversed and the unpaid lump-sum payments were recorded, completing the accounting treatment for abolition of the system. - FY2017-Q1First statedAnnual report
「The Company had recorded the amount payable at the end of the fiscal year under its internal rules in preparation for the payment of directors' retirement bonuses. Following the abolition of the directors' and corporate auditors' retirement bonus system pursuant to a resolution of the Board of Directors held on 13 May 2016, the 93rd Annual General Meeting of Shareholders held on 24 June 2016 resolved to make lump-sum payments of retirement bonuses, within reasonable amounts determined under the Company's standards, to directors and corporate auditors who would remain in office after the conclusion of the meeting, covering their periods of service from their respective appointments through the conclusion of the meeting.」
Resolutions of the Board of Directors and the Annual General Meeting of Shareholders abolished the retirement bonus system for directors and corporate auditors, and a policy was introduced to make lump-sum payments covering their periods of service.