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  "documentTitle": "Oasis Fujitec Presentation December 2022",
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  "presentationDate": "2022-12-01 00:00:00",
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  "notes": "The slide uses a combination of a bar chart and a stacked bar chart to contrast actual Japan operating income vs. bonus targets, and a breakdown of the FY24 target to show lack of international incentive.",
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      "text": "Management Not Incentivised",
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      "kind": "paragraph",
      "text": "Governance structures that the Outside Directors should be leading indicate that the management oversight function is not being performed, in some cases even being delegated to management.",
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      "text": "This management control, for a long time held by Uchiyama, has seen executive performance incentives linked to modest domestic-market targets despite Japan only accounting for 40% of total operating income.",
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      "text": "As set out in the Japan Corporate Governance Code - Principle 4: Responsibilities of the Board - given the fiduciary duty to shareholders, the Board is responsible for “setting the broad direction of corporate strategy” and “carrying out effective oversight of directors and the management”.",
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      "text": "The Corporate Governance Report details that determination of executive pay is delegated to the President (Source), and that an Inside Director sits on the advisory Nomination and Compensation Committee.",
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