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  "documentTitle": "Kao Corporation (4452.JP)",
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  "notes": "The slide contrasts the proposed caps (780m total, 250m outside) against the existing 100m cap for external directors.",
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      "text": "Given an expanded board it is necessary to raise the cap to accommodate the salaries for new external directors on a proportional basis, Oasis is therefore seeking to expand the current pay structure in line with an expanded board on a proportional basis.",
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      "text": "As established at Kao's 2016 Annual General Meeting, the total compensation for all external directors is capped at 100 million yen. This cap is suitable for a board of just four external directors – or 25 million per external director as currently structured. Given an expanded board it is necessary to raise the cap to accommodate the salaries for new external directors on a proportional basis, Oasis is therefore seeking to expand the current pay structure in line with an expanded board on a proportional basis. This is not a pay increase.",
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      "text": "Proposal No. 5: Revision of Compensation for Outside Directors",
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