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  • Notice on Reduction and Voluntary Return of Executive Remuneration

    Tokyo (May 26, 2020) Konica Minolta, Inc. announced that its executives will voluntarily return part of their remuneration, considering the fact that the year-end dividend for the year ended March 31, 2020 (April 1, 2019 to March 31, 2020) (the year-end dividend) was reduced by 5 yen from the previous year. In addition, the performance-linked remuneration decided at Compensation Committee on May 25 and reported to Board of Directors today is herein disclosed.

    1. Amount of return remuneration
    President & CEO 30% of fixed monthly remuneration
    Senior Vice Presidents and Senior Executive Officers 15% of fixed monthly remuneration
    Executive Officers 10% of fixed monthly remuneration
    Chairman of the Board 20% of fixed monthly remuneration

    2. Term
    Three months from May 2020

    3. Performance-linked remuneration
    The annual performance-linked remuneration and the mid-term performance-linked stock bonus for the year ended March 31, 2020, for the executive officers were determined in accordance with the policy regarding the determination of remuneration stipulated in Compensation Committee in advance. The annual performance-linked remuneration is calculated in accordance with financial performance for the fiscal year, the degree of attainment of annual performance targets and progress of each executive officerís key operational measures as well as other factors. The mid-term performance-linked stock bonus is calculated in accordance with the degree of attainment of the targets set by the medium-term business plan. These performance-linked remunerations for executive officers, which were decided based on financial performance for the fiscal year under review, decreased substantially compared with the previous fiscal year.

    As the result of the above, the total annual remuneration (the total amount of remuneration that should be recorded as expenses in the fiscal year under review) of President & CEO, Shoei Yamana, decreased by 43% from the previous fiscal year.