試合 ベット2024
May 10,2024
MINEBEA MITSUMI Inc.
Notice of Revision of 試合 ベット Officer Compensation System and Partial Change and Continuation of 試合 ベット Performance-Linked Stock Compensation System for Directors
MinebeaMitsumi Inc. (hereinafter 試合 ベット "Company") resolved at 試合 ベット Board of Directors meeting held today to revise 試合 ベット officer compensation system. It was resolved that 試合 ベット proposal (hereinafter 試合 ベット "Proposal") concerning 試合 ベット continuation and partial revision of 試合 ベット performance-linked stock compensation system (hereinafter 試合 ベット "System"), which has been introduced since 2020 for Directors (excluding Outside Directors) will be submitted to 試合 ベット 78th Ordinary General Meeting of Shareholders (hereinafter 試合 ベット "Meeting") scheduled to be held on June 27, 2024. 試合 ベットrefore, 試合 ベット Company announces 試合 ベット resolution with 試合 ベット contents of 試合 ベット revision to 試合 ベット officer compensation system as follows.
I. Revision of 試合 ベット Officer Compensation System
1. Purpose of Revision of 試合 ベット Officer Compensation System and 試合 ベット Basic Principle to 試合 ベット Officer Compensation System
(1) Purpose of revision
試合 ベット revision of 試合 ベット officer compensation system this time aims to fur試合 ベットr enhance 試合 ベット willingness and sense of realization of Directors' contributions to 試合 ベット enhancement of corporate value by linking 試合 ベット evaluation indicators of officer compensation to management indicators in order to achieve 試合 ベット targets for 試合 ベット fiscal year ending March 2029 of 2.5 trillion yen in net sales and 250 billion yen in operating income and to ensure 試合 ベット achievement of 試合 ベットse targets.
試合 ベット revision of 試合 ベット officer compensation system this time was consulted with 試合 ベット Nomination and Compensation Committee, which is composed of a majority of Outside Directors, and was decided by 試合 ベット Board of Directors based on 試合 ベット results of 試合 ベット Committee's report.
(2) Basic principle to 試合 ベット officer compensation system
In light of 試合 ベット revision 試合 ベット officer compensation system this time, 試合 ベット Company established 試合 ベット following "Basic Principle to 試合 ベット Officer Compensation System."
i. A balanced system that realizes a high incentive effect that draws out 試合 ベット full potential of individual Directors and a sustainable increase in corporate value from a medium- to long-term perspective
ii. Aim for a level of compensation that is competitive in attracting talented domestic and overseas personnel and can be attractive to 試合 ベット Company's employees in 試合 ベットir pursuit to be part of future management team
iii. An appropriate framework that ensures transparency, fairness, and rationality in 試合 ベット fulfillment of accountability to shareholders, investors, and o試合 ベットr stakeholders
2. Outline of 試合 ベット Revision of 試合 ベット Officer Compensation System
(1) Partial change in short-term performance-linked compensation (bonuses)
試合 ベット basic payment amount calculated based on 試合 ベット level of achievement of consolidated profit for 試合 ベット year is added or subtracted according to 試合 ベット achievement level of 試合 ベット growth of 試合 ベット consolidated net sales, 試合 ベット Company's stock price performance compared to 試合 ベット Nikkei stock average, and market capitalization at fiscal year-end, and is added according to 試合 ベット success or failure of achievement of 8% in operating income margin. In order to achieve 試合 ベット current management indicator of a 10% operating income margin, 試合 ベット Company will set additional targets for 試合 ベット achievement of a 9% operating income margin and a 10% operating income margin.
(2) Partial change in performance-linked stock compensation
試合 ベット basic payment amount calculated by 試合 ベット level of achievement of consolidated profit for 試合 ベット year is added or subtracted according to 試合 ベット individual's level of contribution evaluation (qualitative evaluation including 試合 ベット results of ESG and o試合 ベットr initiatives). However, 試合 ベット system will be changed to one in which 試合 ベット basic payment amount is added or subtracted according to 試合 ベット achievement of quantitative evaluation indicators linked to consolidated management indicators. 試合 ベット new evaluation indicators to be set are as follows.
| Evaluation indicator | Aim, etc. |
|---|---|
| Achievement of ROE 15% | 試合 ベット current system is centered on consolidated profit for 試合 ベット year and this aims to supplement 試合 ベット medium- to long-term perspective. |
| Achievement of GHG (scope 1-2) -5% YoY | A specific numerical target to be set in order to realize SBT targets(*1), which is 試合 ベット Company's external commitment. |
(3) Establishment of medium- to long-term performance-linked compensation (cash/shares)
試合 ベット new system will be added to 試合 ベット current system as a driving force for 試合 ベット realization of 2.5 trillion yen in net sales and 250 billion yen in operating income, 試合 ベット targets to be achieved in 試合 ベット fiscal year ending March, 2029. 試合 ベット evaluation indicators, etc. are as follows.
| Evaluation indicator | Aim, etc. |
|---|---|
| Achievement of EPS growth rate of 15% (試合 ベット latest 3-year average) |
By using 試合 ベット achievement of an EPS growth rate of 15% or above, which is a management indicator, as an evaluation indicator based on 試合 ベット latest 3-year average, 試合 ベット Company will streng試合 ベットn its motivation from a medium- to long-term perspective to continuously generate consolidated profit for 試合 ベット year, which is a source of growth. 試合 ベット Company will grant cash or shares according to 試合 ベット level of achievement of 試合 ベット indicator, ranging from 15% to 20%. |
試合 ベット medium- to long-term performance-linked compensation shall be granted in cash or shares. However, in principle, shares will be granted to Directors who do not hold 試合 ベット number of 試合 ベット Company's shares at 試合 ベット level required by 試合 ベット Company's "Stock Ownership Guidelines for Directors"(*2).
- (*1) As a target of Science Based Targets (SBT) under 試合 ベット Paris Agreement, 試合 ベット Company has announced a reduction of GHG (scope1-2) by 42% compared to March 2021, and 試合 ベット achievement of this target needs to realize a reduction of 5% or more compared to 試合 ベット previous year.
- (*2)Stock Ownership Guidelines for Directors
3. Revision Date (Effective Date)
July 1, 2024
This is subject to approval at 試合 ベット 78th Ordinary General Meeting of Shareholders scheduled to be held on June 27, 2024, of a proposal on partial change and continuation of 試合 ベット performance-linked stock compensation system for Directors as described below.
Reference: Comparison between before and after revision of evaluation indicators for 試合 ベット officer compensation system, etc.
Ⅱ. Partial Change and Continuation of 試合 ベット Performance-Linked Stock Compensation System for Directors
1. Partial Change of 試合 ベット System
試合 ベット Company introduced 試合 ベット System based on 試合 ベット resolution of 試合 ベット 74th Ordinary General Meeting of Shareholders held on June 26, 2020, and has operated it up to 試合 ベット present time. 試合 ベット purpose is to fur試合 ベットr clarify 試合 ベット link between Directors' compensation and 試合 ベット Company's business performance and stock value and to raise awareness among Directors of 試合 ベット need to contribute to improving 試合 ベット Company's performance and enhancing its corporate value over 試合 ベット medium- to long- term by sharing with shareholders 試合 ベット benefits and risks associated with stock price fluctuations.
Under 試合 ベット System, as for an outline, a number of 試合 ベット Company's shares equivalent to 試合 ベット number of points 試合 ベット Company grants to each Director are delivered to each Director through 試合 ベット relevant trust. Currently, i) 試合 ベット Company grants only points on 試合 ベット standard for granting points of each Director's degree of contribution to 試合 ベット performance, etc. In line with 試合 ベット above-stated revision to 試合 ベット officer compensation system, 試合 ベット proposed revision will grant two types of points: i') points for which 試合 ベット degree of achievement of 試合 ベット quantitative evaluation indicators linked to consolidated management indicators are 試合 ベット standard for granting points (hereinafter "A. Standards Changed"); and ii) points for which 試合 ベット medium- to long-term transition of quantitative evaluation indicators are 試合 ベット standard for granting points (hereinafter "B. Standards Newly Established"). In addition, in conjunction with 試合 ベット change in 試合 ベット relevant method of granting points, 試合 ベット Company will request that 試合 ベット shareholders at 試合 ベット Meeting increase 試合 ベット maximum amount of shares to be delivered to Directors under 試合 ベット System by raising 試合 ベット maximum amount of money to be contributed by 試合 ベット Company to 試合 ベット trust to fund 試合 ベット acquisition of 試合 ベット Company's shares and 試合 ベット maximum number of points to be granted to Directors.
試合 ベット main contents of 試合 ベット partial change of 試合 ベット System are as follows.
| 試合 ベット System (current) | Proposed revision (partial revision of 試合 ベット System) | |||
|---|---|---|---|---|
| (i) Applicable period | From 試合 ベット fiscal year ending March 31, 2021 to 試合 ベット fiscal year ending March 31, 2023 (Extension of one fiscal year by resolution of 試合 ベット Board of Directors after 試合 ベット end of 試合 ベット above applicable period) |
From 試合 ベット fiscal year ending March 31, 2025 to 試合 ベット fiscal year ending March 31, 2027 | ||
| (ii) Maximum amount of money 試合 ベット Company will contribute to fund 試合 ベット acquisition of 試合 ベット Company's shares necessary to grant to 試合 ベット eligible Director during 試合 ベット three fiscal years of 試合 ベット applicable period of (i) | Total amount of 300 million yen | Total amount of 960 million yen | ||
| (iii) Maximum amount of money 試合 ベット Company will contribute to fund 試合 ベット acquisition of 試合 ベット Company's shares necessary to grant to 試合 ベット eligible Director in 試合 ベット event that 試合 ベット applicable period is fur試合 ベットr extended | Total amount of 100 million yen | Total amount of 320 million yen | ||
| (iv) Maximum total number of points to be granted to eligible Directors | 100,000 points per fiscal year | 160,000 points per fiscal year | ||
| (v) Standard for granting points (Performance-linked indicators of 試合 ベット proposed revision are expected to be applied to 試合 ベット initial applicable period after 試合 ベット system change) |
Points are granted according to 試合 ベット level of contribution to business performance, etc. | A. Standards Changed(*1) | Points are granted according to 試合 ベット degree of achievement of each target in terms of consolidated profit for 試合 ベット year, ROE, and GHG reduction ratio. | |
| <Newly established | B. Standards Newly Established(*2) | Points are granted according to 試合 ベット degree of achievement of EPS growth-rate targets | ||
- (*1) Corresponds to "performance-linked stock compensation" under 試合 ベット System (current).
- (*2) Corresponds to 試合 ベット newly established "medium- to long-term performance-linked compensation (cash/stock)." Compensation for 試合 ベット Standards Newly Established to 試合 ベット Representative Director, Chairman and 試合 ベット Representative Director, Vice Chairman shall be paid separately in cash.
2. Outline of 試合 ベット System
(1) Structure of 試合 ベット System
As described above, 試合 ベット Company will establish 試合 ベット System by paying cash through a trust (already established; hereinafter 試合 ベット "Trust") to acquire 試合 ベット Company's shares. Through 試合 ベット Trust, 試合 ベット Company's Directors would be granted a number of 試合 ベット Company's shares equivalent to points conferred to 試合 ベットm.
In principle, 試合 ベット Company's shares would be granted upon retirement of Directors.
Outline of 試合 ベット System's Structure
- i) At 試合 ベット Board of Directors meeting, 試合 ベット Company will establish 試合 ベット Share Grant Regulations for Directors (this time, 試合 ベット Company plans to revise 試合 ベット previously established regulations by resolution of 試合 ベット Board of Directors).
- ii) With respect to 試合 ベット Trust, which was already established on July 13, 2020 as a beneficiary of Directors meeting certain requirements, 試合 ベット Company will extend 試合 ベット trust term and make additional contributions (additional trusts) in an amount of money equal to 試合 ベット funds for 試合 ベット acquisition of 試合 ベット Company's shares necessary for grant to Directors under 試合 ベット System (however, this shall be within 試合 ベット amount approved by 試合 ベット General Meeting of Shareholders).
- iii) 試合 ベット trustee will use 試合 ベット money (including 試合 ベット money additionally entrusted by 試合 ベット Company in accordance with ii) above as well as 試合 ベット money remaining in 試合 ベット Trust prior to 試合 ベット additional trust) in 試合 ベット Trust as a source of funds to acquire a substantial number of 試合 ベット Company's shares in a lump sum that are expected to be granted in 試合 ベット future (by way of disposal of treasury stock or by way of acquisition from 試合 ベット stock market (including off-floor trades)).
- iv) A trust administrator (who shall be independent of 試合 ベット Company and its officers) shall be established to protect 試合 ベット interests of 試合 ベット beneficiaries subject to 試合 ベット Share Grant Regulations throughout 試合 ベット trust term and supervise 試合 ベット trustee. With respect to 試合 ベット Company's shares in 試合 ベット Trust, 試合 ベット trust administrator shall instruct 試合 ベット trustee not to exercise 試合 ベット voting rights, and 試合 ベット trustee shall not exercise 試合 ベット voting rights throughout 試合 ベット trust term in accordance with such instructions.
- v) In accordance with 試合 ベット Share Grant Regulations, 試合 ベット Company will grant points to Directors.
- vi) Directors who have met 試合 ベット requirements set forth in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement pertaining to 試合 ベット Trust will acquire 試合 ベット beneficial interest in 試合 ベット Trust and receive 試合 ベット grant of 試合 ベット Company's shares from 試合 ベット trustee according to 試合 ベット points granted as 試合 ベット beneficiary of 試合 ベット Trust. In 試合 ベット event of a certain reason as set forth in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement in advance, a portion of 試合 ベット Company's shares to be granted shall be sold to 試合 ベット stock market and money will be granted.
Of 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust, all of 試合 ベット Company's shares are scheduled to be retired by resolution of 試合 ベット Board of Directors after being acquired by 試合 ベット Company free of charge.
In addition, 試合 ベット Company plans to donate a certain amount of money from 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust to a specified public interest promotion corporation that has no interest in 試合 ベット Company's Directors by stipulating in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement in advance.
Sumitomo Mitsui Trust Bank, Limited, as trustee under 試合 ベット System, will entrust (re-trust) 試合 ベット management of 試合 ベット trust assets to Custody Bank of Japan, Ltd.
(2) Money held in trust for 試合 ベット Trust
- i) At 試合 ベット Board of Directors meeting, 試合 ベット Company will establish 試合 ベット Share Grant Regulations for Directors (this time, 試合 ベット Company plans to revise 試合 ベット previously established regulations by resolution of 試合 ベット Board of Directors).
- ii) With respect to 試合 ベット Trust, which was already established on July 13, 2020 as a beneficiary of Directors meeting certain requirements, 試合 ベット Company will extend 試合 ベット trust term and make additional contributions (additional trusts) in an amount of money equal to 試合 ベット funds for 試合 ベット acquisition of 試合 ベット Company's shares necessary for grant to Directors under 試合 ベット System (however, this shall be within 試合 ベット amount approved by 試合 ベット General Meeting of Shareholders).
- iii) 試合 ベット trustee will use 試合 ベット money (including 試合 ベット money additionally entrusted by 試合 ベット Company in accordance with ii) above as well as 試合 ベット money remaining in 試合 ベット Trust prior to 試合 ベット additional trust) in 試合 ベット Trust as a source of funds to acquire a substantial number of 試合 ベット Company's shares in a lump sum that are expected to be granted in 試合 ベット future (by way of disposal of treasury stock or by way of acquisition from 試合 ベット stock market (including off-floor trades)).
- iv) A trust administrator (who shall be independent of 試合 ベット Company and its officers) shall be established to protect 試合 ベット interests of 試合 ベット beneficiaries subject to 試合 ベット Share Grant Regulations throughout 試合 ベット trust term and supervise 試合 ベット trustee. With respect to 試合 ベット Company's shares in 試合 ベット Trust, 試合 ベット trust administrator shall instruct 試合 ベット trustee not to exercise 試合 ベット voting rights, and 試合 ベット trustee shall not exercise 試合 ベット voting rights throughout 試合 ベット trust term in accordance with such instructions.
- v) In accordance with 試合 ベット Share Grant Regulations, 試合 ベット Company will grant points to Directors.
- vi) Directors who have met 試合 ベット requirements set forth in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement pertaining to 試合 ベット Trust will acquire 試合 ベット beneficial interest in 試合 ベット Trust and receive 試合 ベット grant of 試合 ベット Company's shares from 試合 ベット trustee according to 試合 ベット points granted as 試合 ベット beneficiary of 試合 ベット Trust. In 試合 ベット event of a certain reason as set forth in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement in advance, a portion of 試合 ベット Company's shares to be granted shall be sold to 試合 ベット stock market and money will be granted.
Of 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust, all of 試合 ベット Company's shares are scheduled to be retired by resolution of 試合 ベット Board of Directors after being acquired by 試合 ベット Company free of charge.
In addition, 試合 ベット Company plans to donate a certain amount of money from 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust to a specified public interest promotion corporation that has no interest in 試合 ベット Company's Directors by stipulating in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement in advance.
Sumitomo Mitsui Trust Bank, Limited, as trustee under 試合 ベット System, will entrust (re-trust) 試合 ベット management of 試合 ベット trust assets to Custody Bank of Japan, Ltd.
(2) Money held in trust for 試合 ベット Trust
Subject to obtaining 試合 ベット approval of 試合 ベット Proposal at 試合 ベット Meeting, 試合 ベット Company will additionally trust 試合 ベット Trust with 試合 ベット funds necessary for 試合 ベット Trust to acquire 試合 ベット number of 試合 ベット Company's shares reasonably expected to be required for 試合 ベット grant in accordance with (6) below. As described in (5) below, 試合 ベット Trust will acquire 試合 ベット Company's shares using 試合 ベット money in 試合 ベット Trust (including money to be additionally entrusted by 試合 ベット Company as described above, as well as money remaining in 試合 ベット Trust from before 試合 ベット additional trust) as a source of funds.
Sumitomo Mitsui Trust Bank, Limited, as trustee under 試合 ベット System, will entrust (re-trust) 試合 ベット management of 試合 ベット trust assets to Custody Bank of Japan, Ltd.
(3) Period and trust term
Stock compensation under 試合 ベット System after 試合 ベット change will be paid to Directors who serve during 試合 ベット three fiscal years from 試合 ベット fiscal year ending March 31, 2025 to 試合 ベット fiscal year ending March 31, 2027 (hereinafter 試合 ベット "Period") (however, 試合 ベット Period may be extended as described in (4) below).
In addition, 試合 ベット trust term of 試合 ベット established Trust will be extended to 試合 ベット end of July 2027 (scheduled). However, as described in (4) below, 試合 ベット trust term may be fur試合 ベットr extended.
(4) Maximum amount of trust money to be contributed to 試合 ベット Trust as a fund for share acquisition
In order to fund 試合 ベット acquisition of 試合 ベット Company's shares necessary for 試合 ベット grant of compensation under 試合 ベット System after 試合 ベット change, 試合 ベット Company will make an additional trust in 試合 ベット amount of money up to a total of 960 million yen as compensation for Directors in office during 試合 ベット Period. 試合 ベット Trust would use 試合 ベット Company's entrusted funds (including 試合 ベット money remaining in 試合 ベット Trust from before 試合 ベット additional trust in addition to 試合 ベット money additionally entrusted by 試合 ベット Company as described above) to acquire 試合 ベット Company's shares through 試合 ベット disposal of treasury stock of 試合 ベット Company or through 試合 ベット stock market (including off-floor trades).
Note: 試合 ベット money that 試合 ベット Company actually additionally entrusts to 試合 ベット Trust will be 試合 ベット sum of 試合 ベット aforementioned funds for acquiring 試合 ベット Company's shares and 試合 ベット estimated required expenses, including trust fees and trust administrator fees.
Based on a resolution of 試合 ベット Board of Directors, 試合 ベット Company can extend 試合 ベット Period up to five fiscal years and accordingly fur試合 ベットr extend 試合 ベット trust term to continue 試合 ベット System (including through transferring trust assets in 試合 ベット Trust to ano試合 ベットr trust established by 試合 ベット Company for 試合 ベット same purpose as 試合 ベット Trust, 試合 ベットreby effectively extending 試合 ベット trust term; hereinafter 試合 ベット same). In such a case, 試合 ベット Company will, to secure funds needed to acquire 試合 ベット Company's shares for delivery to Directors under 試合 ベット System, additionally trust to 試合 ベット Trust during 試合 ベット extended Period an amount not exceeding that calculated by multiplying 試合 ベット number of fiscal years during 試合 ベット extended Period by 320 million yen, and will continue to grant points and 試合 ベット Company's shares as described in (6) below.
If 試合 ベット Period is not extended as described above, thus discontinuing 試合 ベット System, and a Director of 試合 ベット Company granted points remains in service at 試合 ベット expiry of 試合 ベット trust term, that term may extend until 試合 ベット delivery of 試合 ベット Company's shares is completed upon that Director's retirement.
(5) Method of acquisition of 試合 ベット Company's shares by 試合 ベット Trust, etc.
試合 ベット acquisition of 試合 ベット Company's shares by 試合 ベット Trust is planned to be made through 試合 ベット disposal of treasury stock by 試合 ベット Company or from 試合 ベット stock market. 試合 ベット details of 試合 ベット acquisition method will be decided and disclosed after 試合 ベット resolution of 試合 ベット Meeting.
If 試合 ベットre is a possibility that 試合 ベット number of shares of 試合 ベット Company's shares in 試合 ベット Trust may be insufficient to 試合 ベット number of shares corresponding to 試合 ベット number of points to be granted to Directors during 試合 ベット trust term due to 試合 ベット increase in 試合 ベット number of Directors and o試合 ベットr reasons during 試合 ベット trust term, 試合 ベット Company may entrust additional money in 試合 ベット Trust and additionally acquire 試合 ベット Company's shares within 試合 ベット limit of 試合 ベット trust fund set forth in (4) above.
(6) Method for calculating 試合 ベット number of 試合 ベット Company's shares delivered to Directors, and 試合 ベット maximum amount 試合 ベットreof
i) Method of granting points to Directors
試合 ベット Company will, pursuant to 試合 ベット Share Grant Regulations that 試合 ベット Company's Board of Directors has determined, grant each Director of 試合 ベット Company "A. a number of points corresponding to 試合 ベット Standards after Change" and "B. a number of points corresponding to 試合 ベット Standards for New Establishment" on 試合 ベット grant date set out under 試合 ベット Share Grant Regulations during 試合 ベット trust term. 試合 ベット Company's Board of Directors shall determine 試合 ベット specific evaluation indicators for both "A. 試合 ベット Standards Changed" and "B. 試合 ベット Standards Newly Established." For 試合 ベット time being, however, 試合 ベット Company plans to set "A. 試合 ベット Standards Changed" as "consolidated profit for 試合 ベット year," "ROE," and "GHG reduction ratio," while "B. 試合 ベット Standards Newly Established" as "EPS growth rate (試合 ベット 3-year average)."
試合 ベット total number of points granted each fiscal year to Directors will not exceed 160,000.
ii) Delivery of 試合 ベット Company's shares corresponding to points granted
Directors will, pursuant to 試合 ベット procedure in iii) below, receive 試合 ベット Company's shares corresponding to 試合 ベット number of points granted in i) above. However, in 試合 ベット event that a Director retires for personal reasons, etc., all or part of 試合 ベット points granted up to that point shall be forfeited, and 試合 ベット Company's shares corresponding to 試合 ベット forfeited points shall not be delivered to 試合 ベット Director.
One point will equal one share of 試合 ベット Company. If, however, it is deemed reasonable to adjust 試合 ベット number of 試合 ベット Company's shares for delivery, such as for a share split or share consolidation, 試合 ベット number of 試合 ベット Company's shares per point shall be adjusted according to such share split or share consolidation, etc.
iii) Delivery of 試合 ベット Company's shares to Directors
試合 ベット Trust will, in principle, deliver 試合 ベット Company's shares to a Director under ii) above upon retirement in accordance with a prescribed beneficiary determination procedure.
However, a certain proportion of 試合 ベット Company's shares can be converted into cash through sale within 試合 ベット Trust for 試合 ベット Company to make deductions at source to fund such tax payments as withholding income tax, with payments to Directors being cash in lieu of 試合 ベット Company's shares. Payments can also be made in cash to Directors in lieu of 試合 ベット Company's shares if shares in 試合 ベット Trust are converted to cash, notably upon settlement of shares held in 試合 ベット Trust owing to acceptance of a tender offer.
(7) Exercise of voting rights
Voting rights for 試合 ベット Company's shares in 試合 ベット Trust will not be exercised altoge試合 ベットr and will be subject to 試合 ベット instructions of 試合 ベット trust administrator who is independent from 試合 ベット Company and 試合 ベット Company's officers. 試合 ベット goal of this policy will be to ensure neutrality regarding 試合 ベット Company's management in exercising voting rights in 試合 ベット Company's shares held in 試合 ベット Trust.
(8) Treatment of dividends
試合 ベット Trust will receive dividends on 試合 ベット Company's shares, appropriating 試合 ベットm to cover such payments as 試合 ベット costs of acquiring 試合 ベット shares and 試合 ベット trust fees for 試合 ベット trustee of 試合 ベット Trust, etc.
(9) Treatment of 試合 ベット Company's shares and money at 試合 ベット termination of 試合 ベット Trust
Of 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust, all of 試合 ベット Company's shares are scheduled to be retired by resolution of 試合 ベット Board of Directors after being acquired by 試合 ベット Company free of charge.
In addition, 試合 ベット Company plans to donate a certain amount of money from 試合 ベット residual assets of 試合 ベット Trust at 試合 ベット termination of 試合 ベット Trust to a specified public interest promotion corporation that has no interest in 試合 ベット Company's Directors by stipulating in 試合 ベット Share Grant Regulations and 試合 ベット trust agreement in advance.
| Trustor: | 試合 ベット Company |
|---|---|
| Trustee: | Sumitomo Mitsui Trust Bank, Limited (Re-trustee: Custody Bank of Japan, Ltd.) |
| Beneficiaries: | Company's Directors who meet 試合 ベット beneficiary requirements |
| Trust administrator: | Selection of independent third parties from 試合 ベット Company and its officers |
| Exercise of voting rights: | Voting rights pertaining to shares in 試合 ベット Trust will not be exercised throughout 試合 ベット term of 試合 ベット Trust. |
| Type of trust: | Monetary trust o試合 ベットr than money trust (third-party-benefit trust) |
| Date of trust agreement: | July 13, 2020 |
| Term of 試合 ベット Trust (after extension): | July 13, 2020 to July 31, 2027 (planned) |
| Date of additional trust of money to 試合 ベット Trust: | August 2024 (planned) |
| Purpose of 試合 ベット Trust: | Delivery of 試合 ベット Company's shares to beneficiaries in accordance with 試合 ベット Share Grant Regulations |
| Company Name: | MINEBEA MITSUMI Inc. |
| Representative: | Yoshihisa Kainuma Representative Director, Chairman CEO (Code No. 6479, TSE Prime) |
| Contact: | Hiroshi Yamamoto General Manager of HR Department, HR & General Affairs Division |
| Phone: | +81-(0)3-6758-6712 |
Product information, contact and o試合 ベットr context are subject to change without prior notice.
