Abolition of the retirement allowance system and introduction of a stock compensation system
First written in FY2020. 5 of 10 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2026-H1.
39 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「The company’s shares remaining in the trust are recorded as treasury shares under shareholders’ equity. The carrying amount and number of these treasury shares were ¥105 million and 100 thousand shares, respectively, at the end of the previous consolidated fiscal year, and ¥77 million and 73 thousand shares, respectively, at the end of the current interim consolidated accounting period.」
Shares held in trust under the stock compensation system for officers decreased from a carrying amount of ¥105 million and 100 thousand shares to ¥77 million and 73 thousand shares. The decrease in shares held in trust in connection with the delivery of shares is indicated. - FY2025-H1RestatedAnnual report
「The company’s shares remaining in the trust are recorded as treasury shares under shareholders’ equity. The carrying amount and number of these treasury shares were ¥105 million and 100 thousand shares, respectively, at the end of the previous consolidated fiscal year, and ¥105 million and 100 thousand shares, respectively, at the end of the current interim consolidated accounting period.」
Shares held in trust under the stock compensation system for officers remained at a carrying amount of ¥105 million and 100 thousand shares from the end of the previous fiscal year. - FY2024AdvancedAnnual report
「As the trust period was due to expire in August 2023, the Board of Directors resolved at its meeting held on 26 July 2023 to extend the trust period by 3 years and continue the system. Shares of the company will be delivered to directors who remain in office during the 3-year period through August 2026 (the “Eligible Period”).」
Regarding the stock compensation system for officers, the trust period was extended by 3 years through August 2026 and continuation of the system was approved. At fiscal year-end, the trust held 100,900 shares with a carrying amount of ¥105 million. - FY2024-Q3Updated operating results for shares held in trustAnnual report
「The company’s shares remaining in the trust are recorded as treasury shares under shareholders’ equity. The carrying amount and number of these treasury shares were ¥84 million and 86 thousand shares, respectively, at the end of the previous consolidated fiscal year, and ¥105 million and 100 thousand shares, respectively, at the end of the cumulative third quarter of the current consolidated fiscal year.」
Shares held in trust under the stock compensation system increased from 86 thousand shares and ¥84 million at the end of the previous fiscal year to 100 thousand shares and ¥105 million. - FY2024-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 November 2023, we resolved to dispose of treasury shares as stock compensation (the “Treasury Share Disposal”), as described below.」
Regarding the stock compensation system, the company resolved to dispose of 42,200 common shares of treasury stock, with 28 November 2023 as the disposal date and a total disposal amount of ¥48,276,800. Continued operation of the system has advanced to the specific procedures for a new issuance of treasury shares. - FY2022AchievedAnnual report
「At meetings of their respective boards of directors held on 28 April 2021, the consolidated subsidiaries resolved to abolish their existing retirement allowance systems for officers upon the conclusion of their ordinary general meetings of shareholders held on 30 June 2021. The general meetings of shareholders approved proposals for lump-sum retirement allowance payments.」
Following the parent company, the consolidated subsidiaries also abolished their retirement allowance systems for officers and implemented lump-sum payments, completing the abolition of the systems across the group. - FY2022-Q1AdvancedAnnual report
「At meetings of their respective boards of directors held on 28 April 2021, the consolidated subsidiaries resolved to abolish their existing retirement allowance systems for officers upon the conclusion of their ordinary general meetings of shareholders held on 30 June 2021. The general meetings of shareholders approved proposals for lump-sum retirement allowance payments.」
Following the parent company, the consolidated subsidiaries also resolved and obtained approval to abolish their retirement allowance systems for officers, advancing the abolition of the systems across the group. The unpaid amount of ¥8 million relating to the lump-sum payments has been recorded under other liabilities. - FY2021-Q2AchievedAnnual report
「Pursuant to a resolution of the ordinary general meeting of shareholders held on 26 June 2020, we introduced a stock compensation system using a trust, with the aim of clarifying the linkage between directors’ compensation and the value of the company’s shares and increasing directors’ awareness of contributing to improved medium- to long-term performance and greater corporate value by sharing with shareholders the gains and risks arising from changes in the share price.」
It was confirmed that the stock compensation system using a trust, which had been scheduled in the previous quarter, had been introduced. At the end of the interim period, the trust held 92 thousand shares with a carrying amount of ¥89 million. - FY2021-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 12 May 2020, we resolved to abolish the retirement allowance system for officers upon the conclusion of the ordinary general meeting of shareholders held on 26 June of the same year. The ordinary general meeting of shareholders also approved a proposal for the lump-sum payment of retirement allowances. Accordingly, the full amount of the provision for retirement benefits for officers was reversed, and the unpaid amount of ¥235 million relating to the lump-sum payments has been recorded under other liabilities because it will be paid when each officer retires.」
The retirement allowance system for officers was abolished upon the conclusion of the ordinary general meeting of shareholders on 26 June 2020, and the full provision was reversed, with ¥235 million in unpaid lump-sum payments recorded. Following approval by the general meeting of shareholders, the disposal of 92,400 treasury shares for ¥89,905,200 under the stock compensation system was scheduled for 21 August 2020, moving the system’s introduction into the implementation phase. - FY2020First statedAnnual report
「The stock compensation system was introduced to clarify the linkage between directors’ compensation and the value of the company’s shares, and to increase directors’ awareness of contributing to improved medium- to long-term performance and greater corporate value by sharing with shareholders the gains and risks arising from changes in the share price.」
The retirement allowance system for directors was abolished, and a system was introduced under which directors’ compensation consists of base compensation and stock compensation. The applicable period is the 3 years from 2020 through 2023, the maximum number of shares to be delivered is 201,000, and the maximum amount of funds for acquiring shares is ¥150 million.