Performance-based Personnel Evaluations and Compensation
First written in FY2017. 4 of 16 entries say "Raised", first in FY2019. Latest entry: FY2026.
The whole theme swung hardest in 2024: 13 of 118 companies on the "Worse" side.
- FY2026Progress in Exercising Performance-based Stock OptionsAnnual report
「Exercised during the period: 42,100 shares Unexercised balance at period-end: 14,900 shares」
Under the performance-based stock options, 42,100 shares were exercised during the fiscal year, leaving an unexercised balance of 14,900 shares at fiscal year-end. - 2026-06-04RaisedGeneral Meetings of Shareholders
「We would like to revise the annual remuneration limit for directors, excluding directors who are Audit and Supervisory Committee members, to no more than ¥1,000 million, of which the portion for outside directors would be no more than ¥50 million.」
A proposal was submitted to raise the annual remuneration limit for directors other than directors who are Audit and Supervisory Committee members from no more than ¥600 million to no more than ¥1,000 million. - FY2025WorsenedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2025 exceeds ¥109,800 million.」
Operating profit for the fiscal year ended March 2025 was ¥105,036 million, below the ¥109,800 million exercise condition specified for the performance-linked stock acquisition rights. - FY2024Introduced restricted stock compensationAnnual report
「Beginning in the current consolidated fiscal year, the Group has introduced a restricted stock compensation system as an equity-settled share-based compensation plan.」
In addition to the existing performance-linked stock acquisition rights, the Company introduced a restricted stock compensation system from the current consolidated fiscal year and granted 2,700 shares. - FY2023Details added to the policy of basing compensation on fixed remunerationAnnual report
「With respect to individual compensation and other matters, directors' basic compensation is fixed monthly remuneration, determined comprehensively based on each director's position and responsibilities, the Company's consolidated operating profit and other business performance, as well as each director's contribution and achievements in the Company's performance and assigned duties.」
The Company has detailed its policy of determining compensation with a view to linking it to corporate value and shareholder interests, while basing it on fixed monthly remuneration and considering consolidated operating profit and other factors comprehensively. - FY2022Formalized as a policy on executive compensationAnnual report
「The basic policy is to establish a compensation system for directors that is linked to shareholder interests, with the aim of ensuring that director compensation serves to clarify management responsibility and provide incentives for the sustained enhancement of corporate value, and to determine each director's compensation at an appropriate level reflecting the director's individual responsibilities.」
The Company has formalized its previous focus on performance-linked compensation as a policy for determining director compensation with a view to linking it to corporate value and shareholder interests. - FY2022-Q1RaisedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2026 exceeds ¥121,500 million. Fiscal year ended March 2022: ¥83,000 million Fiscal year ended March 2023: ¥91,300 million Fiscal year ended March 2024: ¥100,400 million Fiscal year ended March 2025: ¥110,500 million Fiscal year ended March 2026: ¥121,500 million」
For the stock acquisition rights resolved on 1 June 2021, the Company set operating profit targets for the fiscal years ended March 2022 through March 2026, with a final target of ¥121,500 million for the fiscal year ended March 2026. The performance-linked condition exceeds the previous ¥109,800 million target for the fiscal year ended March 2025 in both the deadline and target level. - FY2021WorsenedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2025 exceeds ¥109,800 million. Fiscal year ended March 2021: ¥75,000 million Fiscal year ended March 2022: ¥82,500 million Fiscal year ended March 2023: ¥90,800 million Fiscal year ended March 2024: ¥99,800 million Fiscal year ended March 2025: ¥109,800 million Operating profit decreased 5.1% year on year to ¥69,257 million, owing mainly to the impact of higher electricity trading prices.」
Operating profit of ¥69,257 million fell short of the ¥75,000 million target for the fiscal year ended March 2021 under the performance-linked stock acquisition rights. - FY2021-Q1RaisedAnnual report
「(1) Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2025 exceeds ¥109,800 million. Fiscal year ended March 2021: ¥75,000 million Fiscal year ended March 2022: ¥82,500 million Fiscal year ended March 2023: ¥90,800 million Fiscal year ended March 2024: ¥99,800 million Fiscal year ended March 2025: ¥109,800 million」
For the stock acquisition rights resolved on 1 June 2020, the Company set operating profit targets for the fiscal years ended March 2021 through March 2025, with a final target of ¥109,800 million for the fiscal year ended March 2025. The performance-linked condition exceeds the previous ¥102,500 million target for the fiscal year ended March 2024 in both the deadline and target level. - FY2020AdvancedAnnual report
「Operating profit increased 13.6% year on year to ¥73,004 million, owing to the steady performance of revenue and an increase in gains on sales of property, plant and equipment, including gains from the sale of land and buildings.」
Operating profit for the fiscal year ended March 2020 was ¥73,004 million, exceeding the target of ¥70,000 million for that year specified in the performance-linked stock acquisition rights. - FY2020-Q1RestatedAnnual report
「(2) With respect to operating profit in the Company's consolidated statements of income for each consolidated fiscal year from the fiscal year ended March 2020 through the fiscal year ended March 2024, if operating profit falls below the target figures for 2 consecutive consolidated fiscal years, these stock acquisition rights will expire on the date the Company files, under the Financial Instruments and Exchange Act, its securities report for the second of those consecutive consolidated fiscal years. Fiscal year ended March 2020: ¥70,000 million Fiscal year ended March 2021: ¥77,000 million Fiscal year ended March 2022: ¥84,700 million Fiscal year ended March 2023: ¥93,200 million Fiscal year ended March 2024: ¥102,500 million」
For the performance-linked stock acquisition rights, the Company disclosed specific operating profit targets for the fiscal years ended March 2020 through March 2024 and the expiration condition applicable when targets are missed for 2 consecutive fiscal years. - FY2019RaisedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2024 exceeds ¥102,500 million.」
For the stock acquisition rights resolved on 17 May 2019, the Company established performance-linked compensation with operating profit exceeding ¥102,500 million for the fiscal year ended March 2024 as an exercise condition, raising the target from the previous condition of more than ¥74,800 million for the fiscal year ended March 2023. - FY2019-Q1RestatedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2023 exceeds ¥74,800 million.」
The Company has restated the existing exercise condition for performance-linked stock acquisition rights requiring operating profit of more than ¥74,800 million for the fiscal year ended March 2023. - FY2018AdvancedAnnual report
「Holders of these stock acquisition rights may exercise them only if operating profit in the Company's consolidated statements of income for the fiscal year ended March 2023 exceeds ¥74,800 million.」
For the 1,100 stock acquisition rights resolved on 21 May 2018, the Company established new performance-linked compensation with operating profit exceeding ¥74,800 million for the fiscal year ended March 2023 as an exercise condition. - FY2018-Q3AdvancedAnnual report
「Holders of these stock acquisition rights may exercise them only when all of the following conditions (a) and (b) are met. (a) With respect to revenue in the Company's consolidated statements of income for each consolidated fiscal year from the fiscal year ended March 2018 through the fiscal year ended March 2022, revenue for the relevant fiscal year must exceed revenue for the immediately preceding consolidated fiscal year in at least 4 consolidated fiscal years. (b) Operating profit in the Company's consolidated statements of income for the fiscal year ended March 2022 must be at least ¥66,935 million.」
For the 400 stock acquisition rights resolved on 14 November 2017 (underlying shares: 40,000), the exercise conditions were explicitly set as the number of increases in revenue from the fiscal year ended March 2018 through the fiscal year ended March 2022 and operating profit of at least ¥66,935 million for the fiscal year ended March 2022. - FY2017First statedAnnual report
「For employees, we seek to create a workplace in which corporate value and employee compensation are linked by adopting performance-based personnel evaluation systems and stock options.」
First explicitly states the policy of linking corporate value and employee compensation through performance-based evaluations and stock options.