Sharp announces implementation details of management improvement measures, further reduction in salary, suspension of various benefits system

Sharp decided to implement management improvement measures centering on reduction of personnel expenses at the Board of Directors meeting held today on September 11 and announced so far as "further reduction in personnel expenses is necessary" It has become further stepped on than what was done.

Implementation of management improvement measures | News release: Sharp
http://www.sharp.co.jp/corporate/news/120911-b.html


First of all, measures for general employees are as follows.

· 1: Salary reduction
A reduction of 2% that we have been doing since May 2012 is "reduction of 7%", together with a 7% reduction of allowances other than basic salary
Implementation period: October 2012 - September 2013

· 2: Review of bonuses
Bonuses for December 2012 and bonus for June 2013 are halved compared with payment of June 2012 bonus payment at the level decided by performance linked system

· 3: Other
Measures to lower legal standards such as overtime allowance premium rate, reduction of travel allowance allowance, suspension of welfare system

Measures for managers are as follows.

· 1: Salary reduction
We have already reduced 5% since April 2012 but further down to "10% reduction".
Implementation period: October 2012 - September 2013

· 2: Review of bonuses
Bonuses already paid in June 2012 have been reduced by approximately 30% compared to last year but bonuses in December 2012 and June 2012 bonuses are changed to bonuses paid in half from June 2012 bonus

· 3: Other
Among the measures such as benefits and welfare programs that have been offered to the labor union, the contents to which the same standards are also applied to managerial staff are also applied to managerial positions as soon as consultation with the labor union is established

In addition, according to this measure, we estimate that a fixed cost reduction of about 14 billion yen will be expected in the fiscal year ending March 2013.