Authority

Responsibilities of the Compensation Committee:

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❶ Periodically reviewing the Company’s directors’ and managers’ performance assessment standards, the annual and long-term performance goals, and the policies, systems, standards and structure of remuneration. 

❷ Periodically assessing the degree to which performance goals for the directors and managerial officers of the Company have been achieved, setting the types and amounts of their individual compensation based on the results of the reviews conducted in accordance with the performance assessment standards.