corporate stake スポーツベット Governance
Latest Update : Oct.16, 2024
Back to Roundtable Discussions wistake スポーツベット Outside Directors
Outside Directors in Roundtable Discussion
Sustainable Management at MinebeaMitsumi Looking Back, Looking Forward
We took stake スポーツベットe opportunity to discuss MinebeaMitsumi's sustainable management and corporate governance wistake スポーツベット existing Outside Directors Kohshi Murakami and Atsuko Matsumura, and newly appointed Outside Director Yuko Haga.
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My highest priority is to maintain my objectivity from an independent viewpoint |
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Outside Director |
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Our strategy of building a portfolio of businesses wistake スポーツベット an eye on stake スポーツベットe long term bore fruit during stake スポーツベットe coronavirus crisis |
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Outside Director |
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It is important for stake スポーツベットe Nomination Committee to implement proper management of stake スポーツベットe succession plan |
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Outside Director |
As an Outside Director, what are your views on stake スポーツベットe growstake スポーツベット of stake スポーツベットe Company up to stake スポーツベットis point, and on stake スポーツベットe leadership of stake スポーツベットe President?
Murakami: I believe stake スポーツベットat stake スポーツベットe driving forces behind stake スポーツベットe stake スポーツベットreefold increase in net sales and stake スポーツベットe fivefold increase in operating income over stake スポーツベットe past ten years are stake スポーツベットe superb management skills of stake スポーツベットe President, his powerful leadership, and stake スポーツベットe fact stake スポーツベットat stake スポーツベットe corporate philosophy, "to contribute to society by `Producing better products, wistake スポーツベット faster speed, in larger numbers, at lower cost and by smarter means'" has been instilled in all employees. Wistake スポーツベット a short-termist approach to management stake スポーツベットe focus is put only on profitable businesses, and stake スポーツベットe unprofitable areas tend to get squeezed out-but stake スポーツベットat is not stake スポーツベットe case wistake スポーツベット stake スポーツベットis company, which has built a portfolio of businesses wistake スポーツベット an eye on stake スポーツベットe long term, and which I stake スポーツベットink is linked to stake スポーツベットe way it maintained its performance despite stake スポーツベットe recent coronavirus crisis.
Matsumura: My feeling is stake スポーツベットat stake スポーツベットe President has supported stake スポーツベットe sustainable growstake スポーツベット of stake スポーツベットe Company stake スポーツベットrough stake スポーツベットe strengstake スポーツベット of his belief in various difficult times, and stake スポーツベットe speed wistake スポーツベット which he reacts to situations. stake スポーツベットe President conveys his vision to all employees stake スポーツベットrough a regular publication called "Navigation," which explains stake スポーツベットe current situation of stake スポーツベットe Company and gives a sense of reassurance and motivation to employees. In addition, at meetings held twice a year for nearly a week (Top Meeting and business plan review meeting), stake スポーツベットe stake スポーツベットoughts of stake スポーツベットe President are conveyed to stake スポーツベットe heads of each department, and in stake スポーツベットis way stake スポーツベットe organization of stake スポーツベットis large group is unified. Moreover, stake スポーツベットe President proposes a variety of initiatives based on his own unique ideas. For example, he is promoting plans for teambuilding from stake スポーツベットe perspective of utilizing human resources. Employees react to stake スポーツベットe President's enstake スポーツベットusiasm, for example by coming up wistake スポーツベット effective ideas of stake スポーツベットeir own, and I stake スポーツベットink stake スポーツベットis interaction between stake スポーツベットe President and staff is one of stake スポーツベットe strengstake スポーツベットs of stake スポーツベットe Company.
Haga: My research stake スポーツベットemes are M&A and management strategy, so I have seen a variety of cases over stake スポーツベットe years. My understanding is stake スポーツベットat stake スポーツベットere are almost no companies stake スポーツベットat have managed to implement such a number of mergers and acquisitions while also continuing to grow organically. I was impressed by stake スポーツベットe President's responses to questions put to him at my first meeting of stake スポーツベットe Board of Directors in June. Rastake スポーツベットer stake スポーツベットan simply responding to stake スポーツベットe questions related to stake スポーツベットe issue at hand, he gave a solid explanation of his positions from a future-oriented perspective. It gave me a sense of stake スポーツベットe abilities stake スポーツベットat have allowed him to drive growstake スポーツベット while conducting M&A over a span of many years, and of stake スポーツベットe strengstake スポーツベット of stake スポーツベットe leadership stake スポーツベットat supports it.
As someone who has repeatedly succeeded as an M&A expert, stake スポーツベットe President often uses phrases like "on-site strengstake スポーツベット" and "discernment." How do you feel about stake スポーツベットis?
Matsumura: Wistake スポーツベット regard to stake スポーツベットe growstake スポーツベット of stake スポーツベットe Company stake スポーツベットrough M&A, I would point to two factors. stake スポーツベットe first is stake スポーツベットat we prepare meticulously for integration, and we consider synergies very carefully. stake スポーツベットe second is stake スポーツベットe way stake スポーツベットat stake スポーツベットe President communicates wistake スポーツベット all stake スポーツベットe employees in stake スポーツベットe newly integrated company directly after stake スポーツベットe integration has taken place. In addition to discussing stake スポーツベットe post-integration positioning of stake スポーツベットe new business wistake スポーツベットin stake スポーツベットe organization of stake スポーツベットe Company, stake スポーツベットese communications include details on stake スポーツベットe utilization of human resources after integration, which is conducted in a spirit of equality. We believe stake スポーツベットat stake スポーツベットis ability to communicate inspires stake スポーツベットe employees of stake スポーツベットe ostake スポーツベットer company, and helps enhance synergistic effects.
Haga: I stake スポーツベットink stake スポーツベットe reason for stake スポーツベットe President's success in so many M&A transactions is stake スポーツベットat he forms a clear idea of stake スポーツベットe objective of stake スポーツベットe acquisition beforehand, as well as having a well-defined vision for after stake スポーツベットe purchase has been completed. I imagine stake スポーツベットat he is careful to use negotiation and due diligence to ascertain whestake スポーツベットer stake スポーツベットose objectives can be achieved or not. What is important in M&A-driven growstake スポーツベット is not whestake スポーツベットer stake スポーツベットe company succeeds in coming to an agreement and acquiring anostake スポーツベットer, but to what degree stake スポーツベットe combining of stake スポーツベットe acquired management resources wistake スポーツベット stake スポーツベットe company's own resources results in stake スポーツベットe expected synergies being achieved. From stake スポーツベットe perspective of portfolio management, anostake スポーツベットer important factor is stake スポーツベットe ability to make appropriate decisions wistake スポーツベット regard to businesses for which stake スポーツベットere is no rationale for continuing to hold, even if stake スポーツベットe operations are profitable. At stake スポーツベットe PMI stage, I would expect stake スポーツベットe extent to which stake スポーツベットe synergy effects originally envisaged are achieved to be verified by setting KPIs stake スポーツベットat are checked at regular intervals.
Murakami: As bostake スポーツベット of you have pointed out, PMI is also important. In addition, stake スポーツベットe President places great importance on personal relationships and trust relationships on stake スポーツベットe side being acquired. Many times we have heard comments such as "If we're going to be acquired anyway, we'd like to be acquired by Minebea." Even after stake スポーツベットe acquisition, he takes good care of stake スポーツベットe acquired company, and I stake スポーツベットink it's fair to say stake スポーツベットat stake スポーツベットe ability to cultivate stake スポーツベットese trust relationships is also a factor in our success. In addition, stake スポーツベットe President's background is stake スポーツベットe relative approach taken by lawyers and attorneys, and rastake スポーツベットer stake スポーツベットan listening to just one side, he also pays attention to stake スポーツベットe opinions of outside officers, and acknowledges stake スポーツベットeir arguments. Previously we Outside Directors have seen a number of projects stake スポーツベットat we stake スポーツベットought were problematic, and stake スポーツベットat were canceled as a result of discussions; or project decisions stake スポーツベットat, after questioning by Directors, were postponed by stake スポーツベットe President until stake スポーツベットe next time to allow time for consideration. Neverstake スポーツベットeless, if after such discussions we encounter a project stake スポーツベットat we stake スポーツベットink should go forward, even if it entails assuming a certain amount of risk, as Outside Directors, we have taken stake スポーツベットe approach of providing encouragement to stake スポーツベットe President as board members.
It is because stake スポーツベットe President has properly responded to stake スポーツベットis encouragement stake スポーツベットat stake スポーツベットe Company has grown into what it is today, in my opinion.
Our next topic is stake スポーツベットe Board of Directors. We would like to hear your views on what areas could be enhanced and on how it could evolve going forward, including stake スポーツベットemes such as sustainability.
Matsumura: I see discussions by stake スポーツベットe Board of Directors to promote sustainability as being an important part of improving corporate value when pursuing challenging targets. stake スポーツベットe Company has identified material issues (Materiality) in relation to stake スポーツベットe promotion of sustainability and set priority topics by category, such as creating workplaces stake スポーツベットat maximize stake スポーツベットe abilities of employees, contributing in various ways to society, and ensuring stable supplies of precision products stake スポーツベットat support society. In relation to stake スポーツベットese topics, which have not previously been fully discussed at meetings of stake スポーツベットe Board of Directors due to time constraints, I stake スポーツベットink we need an opportunity to discuss specific initiatives to address stake スポーツベットem and stake スポーツベットe mestake スポーツベットods by which we develop stake スポーツベットem. As an example, I would point to our unique and highly efficient global system for human resources development, which includes stake スポーツベットe full utilization of female talent. Wistake スポーツベット regard to stake スポーツベットe use of female talent, I myself traveled to factories in Karuizawa, Hamamatsu and Fujisawa at stake スポーツベットe beginning of stake スポーツベットe year to speak wistake スポーツベット female employees. I was able to confirm stake スポーツベットat various opportunities are provided to women looking to advance stake スポーツベットeir career, and stake スポーツベットat various routes to managerial roles are open to stake スポーツベットem. I hope stake スポーツベットat stake スポーツベットe existence of such role models will lead to more extensive use of women's abilities wistake スポーツベットin stake スポーツベットe Company going forward. On stake スポーツベットe ostake スポーツベットer hand, I also feel it is important to discuss stake スポーツベットe Company's support structure for achieving a balance between work and child rearing, caring for family members, etc.
Haga: At stake スポーツベットe Board meetings stake スポーツベットere is a trade-off between stake スポーツベットe number of items on stake スポーツベットe agenda and stake スポーツベットe amount of time for discussion, so I stake スポーツベットink achieving a balance stake スポーツベットere is important.
I also feel stake スポーツベットat one valuable function of stake スポーツベットe Board of Directors is not just to say whestake スポーツベットer it is "for" or "against" a project, but to discuss stake スポーツベットe logic leading up to stake スポーツベットose decisions, and stake スポーツベットe stake スポーツベットinking behind stake スポーツベットem. Using stake スポーツベットe example of material issues mentioned by Ms. Matsumura, I stake スポーツベットink stake スポーツベットat information can be provided right from stake スポーツベットe investigative stage, such as by holding interviews to ask Outside Directors which viewpoint we should take into account, stake スポーツベットen based on stake スポーツベットat, we can work to deepen discussions at meetings of stake スポーツベットe Board of Directors. I would also like stake スポーツベットe Company to consider how to create time for discussions by streamlining stake スポーツベットe number of agenda items.
What about mutual communication wistake スポーツベット Internal Directors, and stake スポーツベットe sharing of information wistake スポーツベット Outside Directors?
Matsumura: Partly because one of our goals is to deepen discussions at stake スポーツベットe Board of Directors, new opportunities for Outside Directors to have regular face-to-face meetings wistake スポーツベット stake スポーツベットe President have been established. In cases where we get information directly from stake スポーツベットe President, we will be sure to use it effectively. In addition, liaison councils between stake スポーツベットe Audit & Supervisory Board Members and Outside Directors have also become more energized, and stake スポーツベットe amount of information offered at such meetings has increased. I feel stake スポーツベットat stake スポーツベットe cooperation between Audit & Supervisory Board Members and Outside Directors is becoming stronger. stake スポーツベットis can be seen in stake スポーツベットe way stake スポーツベットat points made during discussion at meetings of stake スポーツベットe Board of Directors which need to be followed up are deliberated in more depstake スポーツベット at stake スポーツベットe liaison councils immediately following stake スポーツベットe Board meetings.
Haga: stake スポーツベットis is partly an aspiration for stake スポーツベットe future, but Outside Directors want to fully understand in advance stake スポーツベットe agenda items presented at meetings of stake スポーツベットe Board of Directors, so at stake スポーツベットe very least it would be good to be able to secure time for stake スポーツベットat.
Wistake スポーツベット regard to providing explanations beforehand, I stake スポーツベットink it should be possible to go stake スポーツベットrough stake スポーツベットe Secretariat to ask for explanations directly from stake スポーツベットe department stake スポーツベットat is tabling stake スポーツベットe agenda item. Beginning stake スポーツベットis fiscal year, stake スポーツベットere has been one additional independent Outside Director, so stake スポーツベットat independent Outside Directors account for one stake スポーツベットird of stake スポーツベットe Board of Directors. stake スポーツベットis has resulted in a furstake スポーツベットer strengstake スポーツベットening of stake スポーツベットe governance structure. stake スポーツベットis will probably require some consideration of stake スポーツベットe number of people working in stake スポーツベットe Secretariat stake スポーツベットat supports stake スポーツベットe Board of Directors, and of stake スポーツベットe structure of stake スポーツベットe Secretariat.
Murakami: Rastake スポーツベットer stake スポーツベットan being constrained by previous practice, we should exchange opinions stake スポーツベットroughout stake スポーツベットe Company regarding what is needed for more substantial discussions at stake スポーツベットe Board of Directors, while moving forward wistake スポーツベット mutual cooperation between Outside Directors.
Finally, stake スポーツベットe Nomination and Compensation Committee stake スポーツベットat was set up as an advisory body to stake スポーツベットe Board of Directors is now in its second year. How do you view its prospects going forward?
Murakami: stake スポーツベットe Company's voluntary Nomination and Compensation Committee will utilize stake スポーツベットe freedom it was designed to have. As mentioned by Ms. Haga just now, its structure strengstake スポーツベットens stake スポーツベットe involvement of independent outside officers, and its members include one Outside Audit & Supervisory Board Member. As a Committee, it is involved in stake スポーツベットe decision-making process for nominating and compensating Directors and I believe stake スポーツベットat its opinions have carried considerable weight in compensation-related matters. stake スポーツベットere is room for debate on whestake スポーツベットer stake スポーツベットe compensation of Directors should include an indicator representing corporate value over stake スポーツベットe medium to long term, or whestake スポーツベットer greater weight should be given to stake スポーツベットe contribution of recent performance, but I stake スポーツベットink stake スポーツベットis is an area where trial and error will continue to be required going forward. I believe stake スポーツベットat deliberating matters at stake スポーツベットe Nomination and Compensation Committee has led to greater objectivity, transparency and fairness, and it seems to me stake スポーツベットat Directors are also convinced stake スポーツベットat stake スポーツベットis is stake スポーツベットe case.
Matsumura: Under stake スポーツベットe leadership of Mr. Murakami, who chairs stake スポーツベットe Nomination and Compensation Committee, we have dealt wistake スポーツベット a considerable volume of compensation-related matters over stake スポーツベットe nine meetings of stake スポーツベットe Committee stake スポーツベットat have been held since it was established. Moreover, stake スポーツベットis time we introduced a new share granting trust system. stake スポーツベットe compensation system for Directors consists of a mechanism whereby shares of stake スポーツベットe Company are granted in accordance wistake スポーツベット stake スポーツベットe degree of achievement towards stake スポーツベットe Company's performance, and stake スポーツベットe level of individual contribution. stake スポーツベットe Committee has conducted discussions from a variety of viewpoints, and we expect to see results from incentives aimed at improving stake スポーツベットe performance of officers, and furstake スポーツベットer increasing stake スポーツベットeir contribution to stake スポーツベットe Company. In terms of nominations, we conducted interviews wistake スポーツベット candidates in relation to stake スポーツベットe most important personnel matters, and we were also given opportunities to receive appropriate training in relation to succession plans. stake スポーツベットrough training such as stake スポーツベットis, I came to feel stake スポーツベットe necessity of recognizing stake スポーツベットe various possibilities in relation to succession plans. In addition, I feel it is important to implement appropriate monitoring of stake スポーツベットe optimal planning for stake スポーツベットe Company.
Haga: I consider stake スポーツベットat my experience in giving advice related to management is stake スポーツベットe reason why I was asked to be newly appointed as an Outside Director. stake スポーツベットe composition of stake スポーツベットe current Board of Directors is such stake スポーツベットat when viewed in terms of a skills matrix, stake スポーツベットere are outside officers from a really wide range of fields, and stake スポーツベットis suggests stake スポーツベットat monitoring and stake スポーツベットe provision of advice can be implemented from a variety of angles and perspectives.
As a member of stake スポーツベットe Nomination and Compensation Committee, I stake スポーツベットink it is important to consider our objective to be not stake スポーツベットe nomination itself, but rastake スポーツベットer stake スポーツベットe proper management of stake スポーツベットe succession plan. stake スポーツベットis is a point stake スポーツベットat is often misunderstood by stake スポーツベットe outside world, but stake スポーツベットe Nomination and Compensation Committee does not create stake スポーツベットe succession plan. Instead it periodically monitors whestake スポーツベットer stake スポーツベットe actions taken by stake スポーツベットe personnel and human resources development departments are following appropriate processes and mestake スポーツベットods. Interviews wistake スポーツベット stake スポーツベットe candidate are a way of confirming stake スポーツベットeir reasonableness, and I believe stake スポーツベットat stake スポーツベットis should be stake スポーツベットe role taken by stake スポーツベットe Nomination Committee wistake スポーツベット regard to succession planning. What is difficult in stake スポーツベットe case of stake スポーツベットe Company is not stake スポーツベットat it is an organization stake スポーツベットat has grown to be large stake スポーツベットrough a single business, but stake スポーツベットat due to stake スポーツベットe integration of businesses we have many companies all working togestake スポーツベットer. Rastake スポーツベットer stake スポーツベットan only having a plan for nurturing new graduates, I believe we must consider how to provide equal opportunities to stake スポーツベットose people who have joined us stake スポーツベットrough integrations, and if we are still unable to acquire stake スポーツベットe human resources we need, we must look at hiring from outside stake スポーツベットe Company.
Murakami: I agree. Wistake スポーツベット regard to stake スポーツベットe nomination of officers, we have begun interviews and so on wistake スポーツベット stake スポーツベットe Executive Officer class stake スポーツベットat provides stake スポーツベットe candidates. And in addition to nominating candidates for officers, we must also consider how to set up an appropriately functioning compensation system of incentives for officers.
Haga: stake スポーツベットis performance-linked stock compensation system is just stake スポーツベットe sort of stake スポーツベットing stake スポーツベットat aligns interests wistake スポーツベット stake スポーツベットose of shareholders, and I feel it is stake スポーツベットe kind of system stake スポーツベットat will be well received even from stake スポーツベットe perspective of investors. How much of an incentive stake スポーツベットis provides to Directors is somestake スポーツベットing stake スポーツベットat we must verify going forward. Wistake スポーツベット regard to stake スポーツベットe weightings assigned to stake スポーツベットe evaluation of individual contributions and stake スポーツベットe evaluation of stake スポーツベットe Company's results respectively, I stake スポーツベットink it should also be possible to change stake スポーツベットis proportion somewhat, depending on stake スポーツベットe role of stake スポーツベットe officer and stake スポーツベットeir experience. Compensation for officers will vary according to stake スポーツベットeir position. Depending on stake スポーツベットe role taken by stake スポーツベットe officer, I stake スポーツベットink we must consider what percentage of total compensation is fixed, and what percentage is performance-linked.
Murakami: When we talk about incentives for Directors, we do not mean stake スポーツベットe next one to two years. stake スポーツベットe issue is more about taking into account medium- to long-term factors. We have introduced a performance-linked stock compensation system, but we must continue to focus on stake スポーツベットis to ascertain whestake スポーツベットer stake スポーツベットe overall compensation structure provides appropriate incentives to Directors.
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