Epson 2016 Annual Report Download - page 119
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118
37. Related Parties
Transactions between the Company and its subsidiaries, which are related parties of the Company, have been
eliminated in consolidation and are not disclosed in this note. There were no significant transactions between the
Company, its subsidiaries and other related parties.
The remuneration of directors and other members of key management personnel was as follows:
(Note 1) Epson introduced a stock performance (stock-based) remuneration system to link remuneration more
closely to share price, so a certain portion of short-term remuneration is allotted for the purchase of Epson Stock.
(Note 2) A director who retired at the closing of the general shareholders’ meeting held on June 24, 2014 receipted
a retirement benefit of ¥41 million based on the resolution of the general shareholders’ meeting held on June 23,
2006, on the payment of director retirement benefits.
(Note 3) A statutory auditor (outside statutory auditor) who retired at the closing of the general shareholders’
meeting held on June 28, 2016 is going to receipt a retirement benefit of ¥15 million ($133 thousand) based on the
resolution of the general shareholders’ meeting held on June 23, 2006, on the payment of director retirement
benefits.
38. Commitments
Commitments for the acquisition of assets were as follows:
Millions of yen
Thousands of
U.S. dollars
Year ended
March 31,
Year ended
March 31,
2015 2016 2016
Short-term remuneration 563 550 4,881
Millions of yen
Thousands of
U.S. dollars
March 31, March 31,
2015 2016 2016
Acquisition of property, plant and equipment 4,706 6,048 53,674
Acquisition of intangible assets 1,519 1,682 14,927
Total 6,226 7,730 68,601