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