Determination of Directors’ Bonuses Based on the Ratio of Profit Before Income Taxes to Operating Revenue
First written in FY2020. 1 of 4 entries say "Achieved", first in FY2021. Latest entry: FY2023.
Okuwa moved to the "Worse" side of this theme in 2023, 1 year before the typical company in this theme (2024).
The whole theme swung hardest in 2020: 4 of 31 companies on the "Worse" side.
8 other companies' latest entry also says "Reframed".
- FY2023Performance-linked compensation metrics expandedAnnual report
「Directors' bonuses are calculated by setting consolidated net income as a percentage of operating revenue as the base metric, then applying coefficients based on the actual number of months of employee bonuses paid, consolidated ROE (non-consolidated basis) and the operating revenue budget achievement rate, according to the evaluation and achievement percentages set out below, with the resulting amounts paid in aggregate.」
The description changed from the previous determination method based on the pre-tax net income margin on operating revenue to a performance-linked compensation calculation method combining consolidated net income as a percentage of operating revenue, the number of months of employee bonuses paid, ROE and the operating revenue budget achievement rate. - FY2022Directors' bonuses paid after target achievementAnnual report
「The target for the pre-tax net income margin on operating revenue was at least 1.0%, while the actual result was 1.1%. Accordingly, directors' bonuses of ¥4 million were paid to the company's directors, excluding part-time and outside directors.」
Against the bonus determination target of at least 1.0%, the actual result was 1.1%, and directors' bonuses of ¥4 million were paid. - FY2021AchievedAnnual report
「For the fiscal year, the target for the pre-tax net income margin on operating revenue was at least 1.0%, while the actual result was 1.8%. Accordingly, the company paid directors' bonuses of ¥4 million to its directors, excluding part-time and outside directors.」
Against the bonus determination target of a pre-tax net income margin on operating revenue of at least 1.0%, the fiscal-year result was 1.8%, and directors' bonuses of ¥4 million were paid. - FY2020First statedAnnual report
「For the fiscal year, the target for the pre-tax net income margin on operating revenue was at least 1.0%, but the actual result was 0.9%, so no bonus was paid.」
The company disclosed for the first time that it set a target of at least 1.0% for the pre-tax net income margin on operating revenue as the metric for determining directors' bonuses and paid no bonus because the fiscal-year result was 0.9%.