Idemitsu Kosan Co.,Ltd. [5019.T]
TOKYO, May 12 (Pulse News Wire) – Idemitsu Kosan CO.,LTD. (5019.T) announced today that its board of directors approved a proposal to amend and continue its equity-based compensation plan for executives and senior officers, excluding non-resident domestic individuals.
The amendments will be submitted to the company's 111th Ordinary General Meeting of Shareholders scheduled for June 24, 2026. Under the amended plan, the cap on contributions will increase from annual ¥640 million multiplied by the number of target years to annual ¥920.0 million multiplied by the same period. Additionally, performance metrics will now include shareholder value indicators alongside strategic goals outlined in the company’s mid-term business plan for fiscal years 2026 through 2030. The revised criteria emphasize capital efficiency ratios such as ROIC and ROE, carbon neutrality targets, and employee engagement measures. The initial performance evaluation period will focus on aligning with the company’s long-term vision and mid-term strategy, particularly emphasizing sustainable enterprise value growth and shareholder alignment.
Basic points assigned based on role will be adjusted according to performance achievement rates during the target period. Points granted will be calculated using the formula: basic points multiplied by the performance achievement rate. Furthermore, the trust period will be extended until August 31, 2031, contingent upon approval at the upcoming shareholders' meeting. The company believes these changes will enhance the effectiveness of the incentive program and promote greater value-sharing among stakeholders. Details of the plan can be found in previous timely disclosures dated May 9, 2023, May 10, 2022, May 15, 2019, and May 15, 2018.
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