Atsugi Extends Executive Pay Cuts Amid Ongoing Financial Challenges

TOKYO, May 13 (Pulse News Wire) – Atsugi CO.,LTD. (3529.T) extended its executive pay cuts through June 2027 during a board meeting held today.

The decision follows the company's revised annual performance report released earlier this month, which highlighted ongoing financial difficulties. Specifically, the board resolved to reduce the monthly compensation of the president by 30% and other executives (excluding outside directors) by 30%. Additionally, internal auditors agreed to cut their own monthly remuneration by 20% for the same period.

These measures aim to demonstrate leadership commitment to cost-cutting efforts and support early return to profitability. Independent external directors comprising more than half of the nomination and remuneration advisory committee reviewed and endorsed these decisions. Furthermore, the permanent auditor requested cooperation in reducing expenses, leading to the agreement on continued salary reductions among audit committee members.

ATSugi’s management team remains committed to restoring performance and driving growth moving forward, seeking continued support from shareholders and stakeholders.