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under the principle of transparent and responsible management
The Compensation Committee is a committee under the Board of Directors that was established to ensure the objectivity and transparency of decision making on Director compensations.
The Committee is responsible for assessing the appropriateness of Director compensation, and reviews and approves the ceiling on Director compensation to be submitted for resolution at a general meeting of shareholders.Composition
In accordance with relevant laws and regulations, the Compensation Committee shall comprise three Independent Directors, who are appointed by resolution at the Board meeting. Currently the committee consists of three Independent Directors.
- Convening of Meetings
- The Compensation Committee is a Committee that is called upon only when there are agendas regarding Director compensation limits or compensation schemes for Directors to be submitted at the general meeting of shareholders. The committee shall hold regular meetings at least once a year.
- Notice of Convening Meetings
- The Head shall call meetings and notify the members and other participants of the meeting time and place at least 24 hours in advance.
- Method of Resolution
- The presence of the majority of all members shall constitute a quorum for a meeting of the committee and the resolutions of the committee shall be adopted by a majority of the votes of the members attending the meeting; provided that the committee meeting may take place via electronic means, such as conference call, within the scope provided by relevant laws.
Committee Activities in 2017 Date Agenda Attendance 22 February, 2017 Appointment of the head of compensation committee 3/3 present Prior review on 2017 remuneration ceiling for Directors
Committee Activities in 2016 Date Agenda Attendance 5 February, 2016 Prior review on 2016 remuneration ceiling for Directors 3/3 present
Committee Activities in 2015 Date Agenda Attendance 11 February, 2015 Preliminary review on remuneration limit for Directors 3/3 present
Committee Activities in 2014 Date Agenda Attendance 18 February, 2014 Prior review on 2014 remuneration ceiling for Directors 2/3 present 13 February, 2014 Appointment of the head of compensation committee 3/3 present
Committee Activities in 2013 Date Agenda Attendance 14 February, 2013 Prior review on remuneration ceiling for Directors 2/3 present
Committee Activities in 2012 Date Agenda Attendance 27 April, 2012 Appointment of Compensation Committee head 3/3 present 16 February, 2012 Prior review on the remuneration ceiling for the directors in 2012 3/3 present