Epson 2013 Annual Report Download - page 38

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37
The monthly salaries of directors are set according to their title, and in consideration of Epson’s business
performance. Director bonuses are paid only if the Company has achieved a level of profit that increases
corporate value. The desired level of profit is predefined by the board of directors, and the board of
directors submits to the general shareholders for approval a proposal for the total amount of director
bonuses to be paid in a given period, the amount to be commensurate with the level of performance with
respect to profit.
Furthermore, a portion of the monthly salaries of directors is paid as Epson stock so that remuneration is
linked to share price, and to serve as an incentive for improving business performance in the long term.
Remuneration paid
Remuneration breakdown
(millions of yen)
Category Total remuneration
(millions of yen)
Basic salary Bonuses
Number of
individuals
Directors
(including total for outside
directors)
399
(15)
399
(15)
-
(-)
13
(1)
Statutory auditors
(including total for outside
statutory auditors)
122
(60)
122
(60)
-
(-)
6
(3)
Total 521 521 - 19
Notes
1. The numbers above include three directors and one statutory auditor who retired at the closing of the
general shareholders’ meeting on June 20, 2012.
2. Remuneration paid to directors does not include remuneration paid to personnel who hold the position
of director as an additional post.
3. Epson introduced a stock performance (stock-based) component to the remuneration system to link
remuneration more closely to share price, so Epson stock accounts for a portion of basic salary.
4. A resolution of the general shareholders’ meeting held on June 26, 2001, established the maximum
amount of remuneration at ¥70 million per month for directors and at ¥12 million per month for
statutory auditors.
5. A director and an outside statutory auditor, both of whom retired at the closing of the general
shareholders’ meeting held on June 24, 2013, will be paid a total of ¥80 million based on the resolution
of the general shareholders’ meeting held on June 23, 2006, on the payment of discontinued benefits for
retiring directors.
6. There is not system of bonuses for statutory auditors.
7. Stock options are not granted.
(5) Stock holdings
Balance sheet total of stocks held for reasons other than pure investment
26 companies ¥9,295 million
Issuing company, number, and balance sheet total of stocks held for reasons other than pure investment
Previous fiscal year
Company Shares (stock)
Balance sheet total
(millions of yen) Reason held
NGK Insulators, Ltd. 3,757,000 4,437 Maintain and
strengthen
business ties
Mizuho Financial Group, Inc. 15,008,880 2,026 Maintain and
strengthen
business ties
Seiko Holdings Corporation 1,644,080 327 Maintain and
strengthen
business ties