LIXIL makes pioneering water and housing products that solve everyday, real-life challenges, making better homes a reality for everyone, everywhere.
Compensation paid to the Company's corporate officers in the year ended March 31, 2018, was as per the following tables.
|Corporate officer title||Total
(Millions of yen)
|Total compensation by type (Millions of yen)||Number of corporate officers eligible for compensation|
Note: 1. The total compensation shown above consists of both the compensation paid by the Company and the compensation paid by the Company's subsidiaries. The amount paid by the Company was ¥2,611 million (¥227 million for 10 directors and ¥2,384 million for 14 executive officers).
2. The total compensation paid to the five directors who also served as executive officers as of the end of the fiscal year under review, and the number of these executive officers, are included in the total amount of compensation paid to executive officers and the total number of executive officers. Furthermore, the total compensation corresponding to the period during which they did not concurrently serve as executive officers for some period during the fiscal year under review, paid to the two directors and the number of these executive officers, are included in the total amount of compensation paid to executive officers and the number of the directors is added to the number of executive officers.
3. The compensation for executive officers includes single annual and medium to long-term performance-based compensation of ¥1,773 million booked in the fiscal year under review (with respect to 13 executive officers).
4. The total number of directors and executive officers eligible to receive stock options is one.
5. One officer is eligible for "Other."
(Millions of yen)
|Total compensation by type (Millions of yen)|
|Basic compensation||Performance-based compensation||Stock option||Other|
|Yoichiro Ushioda||Director||LIXIL Group Corporation||57||57||-||-||-|
|Executive Officer||LIXIL Group Corporation||60||60||-||-||-|
|Director||LIXIL INTERNATIONAL Pte. Ltd.||5||5||-||-||-|
|LIXIL Group Corporation||1,127||195||867||65||-|
|Ryuichi Kawamoto||Executive Officer||LIXIL Group Corporation||255||68||187||-||-|
|Sachio Matsumoto||Executive Officer||LIXIL Group Corporation||270||68||202||-||-|
|Haruo Shirai||Executive Officer||LIXIL Group Corporation||103||-||103||-||-|
|Jin Song Montesano||Executive
|LIXIL Group Corporation||195||56||91||-||48|
|Harumi Matsumura||Executive Officer||LIXIL Group Corporation||117||50||66||-||-|
|Laurence William Bates||Executive Officer||LIXIL Group Corporation||139||55||84||-||-|
Note: 1. Performance-based compensation for the executive officers is the sum of the single annual performance-based compensation and the medium- to long-term performance-based compensation allocated as the fiscal year under review to be the end of that term.
2. Stock options are booked as expenses in the fiscal year under review with regard to the 9th share acquisition rights, and differ from the amounts obtained from the actual execution and sale.
3. "Other" consists of factors such as cost of living assistance and medical insurance associated with overseas postings.
4. Laurence William Bates left the Company as of March 31, 2018.
The Company's policy on the compensation plan for corporate officers is to implement a fair compensation structure that will motivate each corporate officer to execute his or her duties in order to meet shareholders' expectations and fulfill the Company's management policy.
Directors are responsible for giving the advice to and supervising the Company's management from an objective point of view. Executive officers are responsible for the execution of business. Accordingly, there shall be separate compensation schemes for each group in order to align with their different roles. When a director serves as an executive officer, the compensation scheme of the executive officer shall be applied in principle.
Compensation of personnel with advanced expertise, qualifications and knowledge, etc. shall be discussed and decided separately in accordance with the basic policy of compensation.
The individual amount of each component shall be determined in accordance with the above basic policy based on research provided by an outside compensation consultant to the Compensation Committee on an annual basis.
In order to provide the best corporate governance, the majority of members and the chairperson shall be nonexecutive directors.