Performance-Linked Stock Compensation Scheme for Directors
First written in FY2017. 3 of 20 entries say "Advanced", first in FY2018-Q2. Latest entry: FY2026.
Joshin moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2020: 4 of 30 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「The plan's covered period was originally the 3 years from the fiscal year ending March 2018 through the fiscal year ending March 2020. At meetings of the Board of Directors held on 23 June 2020, 18 April 2023 and 3 March 2026, resolutions were passed to extend the plan by 3 years on each occasion after partially revising or establishing the share-delivery rules.」
The performance-linked share-based compensation plan for directors and other eligible officers was extended through the fiscal year ending March 2029, with ROE, the CDP Climate Change score and the employee engagement score used as compensation metrics. - FY2025Update of annual actual performance-linked metricsAnnual report
「ROE for the fiscal year was 3.3%, the CDP Climate Change score was A, and the employee engagement score was 63 points.」
The company disclosed actual performance for the metrics under the performance-linked share-based compensation plan for directors: ROE of 3.3%, a CDP Climate Change score of A, and an employee engagement score of 63 points. - FY2024Update of shares acquired by the trust account for directorsAnnual report
「The number of treasury shares at the beginning and end of the current consolidated fiscal year includes 51,475 shares and 251,475 shares, respectively, held by the share-delivery trust account for directors.」
Following the plan's extension in April 2023, shares held in the share-delivery trust account for directors increased from 51,475 shares to 251,475 shares. The plan will continue through the end of March 2026. - FY2024-Q3Update of shares held in trust for executivesAnnual report
「For the calculation of quarterly net income per share, the average number of treasury shares during the period deducted was 51 thousand shares in the previous third-quarter cumulative consolidated period and 95 thousand shares in the current third-quarter cumulative consolidated period.」
The average number of shares deducted in connection with the performance-linked share-based compensation plan, including shares in the share-delivery trust account for directors and other accounts, was 95 thousand shares, up from 51 thousand shares in the same period of the previous year. - FY2023ReframedAnnual report
「Main purposes of the revision • Clarify management accountability by expanding performance-linked compensation • Promote motivation to enhance corporate value over the medium to long term by expanding share-based compensation as a long-term incentive • Promote sustainability management by introducing ESG metrics into the compensation calculation criteria」
The performance-linked share-based compensation plan for directors was extended for 3 years through the fiscal year ending March 2026 and reorganized to incorporate the CDP Climate Change score and employee engagement index into compensation calculations in addition to operating profit and ROE. - FY2023-Q3Update of shares held in trust for executivesAnnual report
「The shares of the Company remaining in the executive stock delivery trust account and recorded as treasury shares under shareholders’ equity are included in the treasury shares deducted when calculating the average number of shares during the period for the calculation of quarterly net income per share. The average number of treasury shares during the period deducted was 57 thousand shares in the previous third-quarter cumulative consolidated period and 51 thousand shares in the current third-quarter cumulative consolidated period.」
The average number of shares deducted in connection with the performance-linked share-based compensation plan, held in the share-delivery trust account for directors, was 51 thousand shares, down from 57 thousand shares in the same period of the previous year. - FY2022Annual update of performance-linked metricsAnnual report
「The target for the performance measure related to performance-linked share-based compensation for the fiscal year was consolidated operating profit of ¥12,000 million, and a ¥10 million provision for share-based compensation was recorded based on actual operating profit of ¥8,884 million.」
For operating profit, the performance measure for performance-linked share-based compensation, actual operating profit was ¥8,884 million against the annual target of ¥12,000 million, and a ¥10 million provision for share-based compensation was recorded. The plan's covered period was extended through the fiscal year ending March 2023. - FY2022-Q3Update of shares held in trust for executivesAnnual report
「For the calculation of quarterly net income per share, the average number of treasury shares during the period deducted was 65 thousand shares in the previous third-quarter cumulative consolidated period and 57 thousand shares in the current third-quarter cumulative consolidated period.」
The average number of shares deducted, including shares in the share-delivery trust account for directors, was 57 thousand shares for the cumulative third quarter of the current fiscal year, down from 65 thousand shares in the same period of the previous year. - FY2022-Q2Update of shares held in trust for executivesAnnual report
「For the calculation of quarterly net income per share, the average number of treasury shares during the period deducted was 65 thousand shares in the previous second-quarter cumulative consolidated period and 62 thousand shares in the current second-quarter cumulative consolidated period.」
The average number of shares deducted, including shares in the share-delivery trust account for directors, was 62 thousand shares for the cumulative second quarter of the current fiscal year, down from 65 thousand shares in the same period of the previous year. - FY2021AdvancedAnnual report
「The target for the performance measure related to performance-linked share-based compensation for the fiscal year was consolidated operating profit of ¥9,500 million, and a ¥103 million provision for share-based compensation was recorded based on actual operating profit of ¥16,550 million.」
Under the plan in which the performance measure was changed from ordinary profit to operating profit, actual operating profit was ¥16,550 million against a target of ¥9,500 million, and a ¥103 million provision for share-based compensation was recorded. - FY2021-Q2Update on shares held in trustAnnual report
「For the calculation of quarterly net income per share, the average number of treasury shares during the period deducted was 252 thousand shares in the previous second-quarter cumulative consolidated period (181 thousand shares held by the employee stock ownership association trust account and 71 thousand shares held by the executive stock delivery trust account), and 65 thousand shares in the current second-quarter cumulative consolidated period (all held by the executive stock delivery trust account).」
The number of shares deducted for the share-delivery trust account for directors was updated from 71 thousand shares in the same quarter of the previous year to 65 thousand shares for the cumulative second quarter of the current fiscal year. Shares in the employee shareholding association trust account are not included. - FY2021-Q1Update on shares held in trustAnnual report
「For purposes of calculating quarterly earnings per share, the average number of treasury shares during the period deducted was 293 thousand shares in the cumulative first quarter of the previous fiscal year (218 thousand shares in the employee shareholding association trust account and 75 thousand shares in the share-delivery trust account for directors) and 65 thousand shares in the cumulative first quarter of the current fiscal year (all held in the share-delivery trust account for directors).」
The employee shareholding association trust terminated upon expiry of its trust period, leaving only the 65 thousand shares in the share-delivery trust account for directors as shares deducted in the first quarter of the current fiscal year. - FY2020ReframedAnnual report
「The company decided at a meeting of its Board of Directors held on 23 June 2020 to extend the plan for 3 years after partially revising the share-delivery rules, because the plan's covered period was the 3 years from the fiscal year ending March 2018 through the fiscal year ending March 2020. Under the revision, the performance measure for performance-linked share-based compensation was changed to operating profit, which more directly indicates the Group's operating performance as a retailer.」
The performance-linked share-based compensation plan for directors was extended for 3 years, and the performance measure was changed from ordinary profit to operating profit. - FY2020-Q3Update on shares held in trustAnnual report
「For purposes of calculating quarterly earnings per share, the average number of treasury shares during the period deducted was 364 thousand shares in the cumulative third quarter of the previous fiscal year (289 thousand shares in the employee shareholding association trust account and 75 thousand shares in the share-delivery trust account for directors), and 229 thousand shares in the cumulative third quarter of the current fiscal year (160 thousand shares in the employee shareholding association trust account and 69 thousand shares in the share-delivery trust account for directors).」
The average number of shares held in trusts deducted in calculating earnings per share for the third quarter was 229 thousand shares, comprising 160 thousand shares in the employee shareholding association trust account and 69 thousand shares in the share-delivery trust account for directors. - FY2020-Q2Update on shares held in trustAnnual report
「For the calculation of quarterly net income per share, the average number of treasury shares during the period deducted was 377 thousand shares in the previous second-quarter cumulative consolidated period (302 thousand shares held by the employee stock ownership association trust account and 75 thousand shares held by the executive stock delivery trust account), and 252 thousand shares in the current second-quarter cumulative consolidated period (181 thousand shares held by the employee stock ownership association trust account and 71 thousand shares held by the executive stock delivery trust account).」
The number of shares deducted for the share-delivery trust account for directors was updated from 75 thousand shares in the same period of the previous year to 71 thousand shares for the cumulative second quarter of the current fiscal year. - FY2019AdvancedAnnual report
「The performance measure for performance-linked share-based compensation is ordinary profit as reported in the consolidated income statement. The target for the fiscal year was consolidated ordinary profit of ¥10,500 million, and a provision of ¥41 million was recorded for share-based compensation.」
Under the performance-linked share-based compensation plan for directors, consolidated ordinary profit is used as the performance measure, with a target of ¥10,500 million for the fiscal year. The company disclosed a ¥41 million provision for share-based compensation. - FY2019-Q1Update on shares held in trustAnnual report
「“Fully voting shares (Other)” include 328,500 of our shares held by the employee stock ownership association trust account (3,285 voting rights) and 75,000 of our shares held by the executive stock delivery trust account (750 voting rights).」
The company disclosed 75,000 shares held in the share-delivery trust account for directors and updated the plan's shareholding status following the share consolidation. - FY2018RestatedAnnual report
「Under this performance-linked stock compensation plan, a trust established by our company through the contribution of funds, with a trust period of approximately 3 years, acquires our shares, which are delivered through the trust to our directors in accordance with the stock-delivery rules established by our company.」
The company continues to disclose the performance-linked share-based compensation plan for directors introduced in the previous fiscal year, under which shares are delivered through a trust established for approximately 3 years. - FY2018-Q2AdvancedAnnual report
「Fully voting shares (Other) include 715,000 of our shares held by the employee stock ownership association trust account (715 voting rights) and 150,000 of our shares held by the executive stock delivery trust account (150 voting rights).」
For the performance-linked stock compensation plan for officers introduced in the previous fiscal year, the disclosure from the second quarter of the 70th term of 150,000 shares held by the stock-delivery trust account established for officers confirms that the plan has been implemented. - FY2017First statedAnnual report
「Our company resolved at the 69th Annual General Meeting of Shareholders held on 27 June 2017 to introduce a performance-linked compensation plan for our directors (excluding outside directors; the same applies below). The purpose of the plan is to clarify the linkage between business performance and shareholder value and directors' compensation, ensure that our directors bear the risk of share-price declines as well as benefit from share-price increases, and share with shareholders the gains and risks arising from share-price fluctuations, thereby increasing their awareness of contributing to improved medium- to long-term performance and increased corporate value.」
We introduced a plan covering the 3-year period from the fiscal year ending March 2018 through the fiscal year ending March 2020, under which the trust would acquire and deliver our shares to directors, subject to a maximum of ¥300 million, during the trust period from August 2017 through September 2020.