● Compensation is decided in ● In order to increase the transparency and ● The Company will set the level and composition of compensation to enable the hiring and retention of talented human resources who are diverse in terms of nationality, experience, etc.● The composition ratio will emphasize performance-based compensation to provide sufficient incentive to achieve profitable growth.● The system will promote improvement in medium- to long-term corporate value and the sharing of profit consciousness with shareholders.● The Company makes use of ● Compensation for directors who are Audit & Supervisory Committee members is proposed to the Audit & Supervisory Committee and is determined through deliberation with directors who are Audit & Supervisory Committee members, within the total amount determined at the General Meeting of Shareholders.● Through resolution of the Board of Directors, compensation for outside directors who are not Audit & Supervisory Committee members is deliberated by the Audit & Supervisory Committee based on policies concerning the determination of compensation for directors. The setting of compensation is delegated to the representative director and president, who determines compensation within the total amount determined at the General Meeting of Shareholders.● Compensation level and structure based on role in management supervision and auditing.［Image of compensation structure (in case of Representative Director & President)］Fixed compensationBasic compensationBase salary & retirement paymentsRSUVariable compensationAnnual bonusaround 30 to 85Variable compensationAnnual bonus & PSUat base amount69%37%30%31%63%70%Long-term incentives*Around 15 to 100Annual bonus & PSUat maximumRetirement paymentsFixed compensationTargetsExecutive directors, executive officersSupervisory officersUnder minimumpaymentUnder standardpaymentUnder maximumpaymentBasic policyDecision-making processobjectivity in compensation decision procedures, the content of compensation is deliberated by the Audit & Supervisory Committee, composed of only outside directors, based on policies concerning the determination of compensation for directors and within the total amount determined at the General Meeting of Shareholders. Through resolution of the Board of Directors, the setting of compensation is delegated to the representative director, who determines the compensation for each executive director, including the amount of performance-based compensation.accordance with scale of responsibilities, utilizing data from compensation surveys performed by external research organizations and taking into account the level of compensation provided at companies such as domestic and overseas companies of similar scale in similar industries, with the intent of providing a level of compensation that enables recruitment and retention of talented people who are highly diverse in terms of nationality, experience, etc.compensation survey data from outside expert organizations, etc., with reference to compensation levels in domestic companies of similar scale, and sets levels in accordance with roles.Level*PSU (Performance Share Units) and RSU (Restricted Stock Units)3710010Corporate GovernanceCompensation system for executive directors and executive officersCompensation for executive directors and executive officers is composed of fixed compensation and variable compensation that varies with factors such as corporate performance, to reflect responsibilities and contribution to corporate performance. The standard amount of compensation is set according to the scale of responsibilities. The larger the responsibilities, the higher the percentage of variable compensation.［Range of standard amounts of compensation: Image when basic compensation* is set to 100］Executive Compensation SystemBasic policyWe have designed our executive compensation system on the basis of the following policy. Executives subject to the system in 2021 are 2 executive directors, 7 supervisory officers (directors who are Audit & Supervisory Committee members and outside directors who are not Audit and Supervisory Committee members), and 10 executive officers.［Overview of the executive compensation system］
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