Abolition of the directors’ retirement bonus system
First written in FY2018-Q1. 1 of 2 entries say "Restated". Latest entry: FY2018-Q3.
26 other companies' latest entry also says "Restated".
- FY2018-Q3RestatedAnnual report
「Accordingly, the provision for retirement benefits for directors and other officers was reversed in full, and the unpaid portion of the discontinuation payments, ¥530 million, is presented as long-term accounts payable within “Other” under non-current liabilities.」
The company continues to disclose the reversal of the provision following the abolition of the retirement benefit program for directors and other officers and the recognition of ¥530 million in long-term accounts payable. - FY2018-Q1First statedAnnual report
「Under the company’s former retirement benefit program for directors and other officers, an amount payable at the end of each consolidated fiscal year, calculated in accordance with internal rules, was recorded to provide for the payment of retirement benefits. At a Board of Directors meeting held on 9 May 2017, the company resolved to abolish the program effective upon the conclusion of the annual general meeting of shareholders held on 29 June 2017. The meeting approved the discontinuation payments for directors and other officers. Accordingly, the provision for retirement benefits for directors and other officers was reversed in full, and the unpaid portion of the discontinuation payments, ¥530 million, is presented as long-term accounts payable within “Other” under non-current liabilities.」
Following resolutions by the Board of Directors and approval at the annual general meeting of shareholders, the company abolished the retirement benefit program for directors and other officers and presented the unpaid discontinuation payment of ¥530 million as long-term accounts payable.