Lion Management

Management criteria checks 4/4

Lion's CEO is Masazumi Kikukawa, appointed in Mar 2022, has a tenure of 2.08 years. total yearly compensation is ¥131.00M, comprised of 46.6% salary and 53.4% bonuses, including company stock and options. directly owns 0.01% of the company’s shares, worth €222.61K. The average tenure of the management team and the board of directors is 7.1 years and 5.1 years respectively.

Key information

Masazumi Kikukawa

Chief executive officer

JP¥131.0m

Total compensation

CEO salary percentage	46.6%
CEO tenure	2.1yrs
CEO ownership	0.01%
Management average tenure	7.1yrs
Board average tenure	5.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Masazumi Kikukawa's remuneration changed compared to Lion's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	JP¥15b
Sep 30 2023	n/a	n/a	JP¥14b
Jun 30 2023	n/a	n/a	JP¥15b
Mar 31 2023	n/a	n/a	JP¥16b
Dec 31 2022	JP¥131m	JP¥61m	JP¥22b
Sep 30 2022	n/a	n/a	JP¥22b
Jun 30 2022	n/a	n/a	JP¥24b
Mar 31 2022	n/a	n/a	JP¥26b
Dec 31 2021	JP¥145m	JP¥68m	JP¥24b
Sep 30 2021	n/a	n/a	JP¥22b
Jun 30 2021	n/a	n/a	JP¥22b
Mar 31 2021	n/a	n/a	JP¥22b
Dec 31 2020	JP¥158m	JP¥63m	JP¥30b
Sep 30 2020	n/a	n/a	JP¥31b
Jun 30 2020	n/a	n/a	JP¥30b
Mar 31 2020	n/a	n/a	JP¥31b
Dec 31 2019	JP¥124m	JP¥64m	JP¥21b

Compensation vs Market: Masazumi's total compensation ($USD841.68K) is below average for companies of similar size in the German market ($USD2.47M).

Compensation vs Earnings: Masazumi's compensation has been consistent with company performance over the past year.

CEO

Masazumi Kikukawa (64 yo)

2.1yrs

Tenure

JP¥131,000,000

Compensation

Mr. Masazumi Kikukawa has been President since January 01, 2019, served as the Chief Operating Officer of Lion Corporation since January 1, 2019 until March 2022, serves as its Chairman since March 30, 202...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Masazumi Kikukawa	CEO & Chairman of the Board	2.1yrs	JP¥131.00m	0.0098% ¥ 222.6k
Masayuki Takemori	President	1.1yrs	no data	0.0051% ¥ 115.5k
Akihiko Takeo	Executive Officer	no data	no data	no data
Kei Minamikawa	Executive GM of Supply Chain Planning Headquarters & Director of Administration Department	no data	no data	no data
Keita Tanimoto	Director of Investor Relations Office	no data	no data	no data
Yoko Koike	Executive Officer & Director of Human Resources Development Center	no data	no data	no data
Kenjiro Kobayashi	Senior Executive Officer & Director	7.1yrs	no data	0.22% ¥ 4.9m
Tomomichi Okano	Executive Officer & President of Lion Chemical Corporation	no data	no data	no data
Yugo Kume	Senior Executive Officer & Director	12.3yrs	no data	0.010% ¥ 239.0k
Fumitomo Noritake	Executive Officer & Director	8.3yrs	no data	0.0072% ¥ 165.0k
Masaharu Mikuni	Senior Executive Officer and Executive GM of Health & Home Care Products Sales Division	no data	no data	no data
Hitoshi Suzuki	Executive Officer & Director	no data	no data	0.0054% ¥ 123.7k

7.1yrs

Average Tenure

60.5yo

Average Age

Experienced Management: LOC's management team is seasoned and experienced (7.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Masazumi Kikukawa	CEO & Chairman of the Board	12.1yrs	JP¥131.00m	0.0098% ¥ 222.6k
Masayuki Takemori	President	1.1yrs	no data	0.0051% ¥ 115.5k
Kenjiro Kobayashi	Senior Executive Officer & Director	12.1yrs	no data	0.22% ¥ 4.9m
Yugo Kume	Senior Executive Officer & Director	6.1yrs	no data	0.010% ¥ 239.0k
Fumitomo Noritake	Executive Officer & Director	5.1yrs	no data	0.0072% ¥ 165.0k
Hitoshi Suzuki	Executive Officer & Director	3.1yrs	no data	0.0054% ¥ 123.7k
Kengo Fukuda	Executive Officer & Director	2.1yrs	no data	0.0062% ¥ 140.1k
Takako Sugaya	Independent External Director	5.1yrs	no data	0.0011% ¥ 24.8k
Kazunari Uchida	Independent External Director	8.1yrs	no data	0.0040% ¥ 90.7k
Reiko Yasue	Independent External Director	3.1yrs	no data	0.00072% ¥ 16.4k
Takashi Shiraishi	Independent External Director	7.1yrs	no data	0.0033% ¥ 74.3k
Atsuko Suzuki	External Audit & Supervisory Board Member	3.1yrs	no data	0.00072% ¥ 16.4k

5.1yrs

Average Tenure

60.5yo

Average Age

Experienced Board: LOC's board of directors are considered experienced (5.1 years average tenure).

Lion Management

Management criteria checks 4/4

Key information

Recent management updates

Lion Corporation, Annual General Meeting, Mar 28, 2024

Lion Corporation, Annual General Meeting, Mar 30, 2023

Less than half of directors are independent

Less than half of directors are independent

Lion Corporation, Annual General Meeting, Mar 30, 2022

Lion Corporation, Annual General Meeting, Mar 30, 2021

Recent updates

Final dividend of JP¥13.00 announced

Lion Corporation to Report Q1, 2024 Results on May 08, 2024

Full year 2023 earnings released: EPS: JP¥51.42 (vs JP¥77.04 in FY 2022)

Lion Corporation (TSE:4912) announces an Equity Buyback for 8,800,000 shares, representing 3.09% for ¥10,000 million.

Lion Corporation, Annual General Meeting, Mar 28, 2024

Upcoming dividend of JP¥13.00 per share at 2.0% yield

Lion Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024

Third quarter 2023 earnings released: EPS: JP¥16.00 (vs JP¥21.29 in 3Q 2022)

Lion Corporation to Report Q3, 2023 Results on Nov 07, 2023

New minor risk - Earnings quality

Second quarter 2023 earnings released: EPS: JP¥9.56 (vs JP¥11.13 in 2Q 2022)

Upcoming dividend of JP¥13.00 per share at 1.9% yield

Lion Corporation to Report Q2, 2023 Results on Aug 07, 2023

Nissin Food Products Co.,Ltd. agreed to acquire portion of its lactoferrin business and other direct-to consumer foods with function claims from Lion Corporation (TSE:4912) for ¥1.5 billion.

First quarter 2023 earnings released: EPS: JP¥5.55 (vs JP¥27.56 in 1Q 2022)

Full year 2022 earnings released: EPS: JP¥77.04 (vs JP¥81.72 in FY 2021)

Lion Corporation, Annual General Meeting, Mar 30, 2023

Lion Corporation agreed to acquire Merap Holding Corporation Limited.

Upcoming dividend of JP¥13.00 per share

Lion Corporation to Report Fiscal Year 2022 Results on Feb 13, 2023

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: JP¥21.29 (vs JP¥28.25 in 3Q 2021)

Lion Corporation Provides Dividend Guidance for Fiscal 2022

Lion Corporation to Report Q3, 2022 Results on Nov 04, 2022

Lion Corporation Provides Dividend Guidance for the Fiscal 2022

Second quarter 2022 earnings released: EPS: JP¥11.13 (vs JP¥16.72 in 2Q 2021)

Upcoming dividend of JP¥12.00 per share

Lion Corporation to Report Q2, 2022 Results on Aug 08, 2022

Lion Corporation Provides Earnings Guidance for the First Half of Fiscal 2022 and for Fiscal Year Ending December 31, 2022

First quarter 2022 earnings released: EPS: JP¥27.56 (vs JP¥20.48 in 1Q 2021)

Less than half of directors are independent

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Lion Corporation (TSE:4912) announces an Equity Buyback for 6,578,900 shares, representing 2.26% for ¥10,000 million.

Lion Corporation, Annual General Meeting, Mar 30, 2022

Upcoming dividend of JP¥12.00 per share

Third quarter 2021 earnings released: EPS JP¥28.25 (vs JP¥29.63 in 3Q 2020)

Second quarter 2021 earnings released: EPS JP¥16.72 (vs JP¥17.42 in 2Q 2020)

Upcoming dividend of JP¥12.00 per share

First quarter 2021 earnings released: EPS JP¥20.48 (vs JP¥46.64 in 1Q 2020)

Lion Corporation to Report Q1, 2021 Results on May 10, 2021

New 90-day low: €16.90

Full year 2020 earnings released: EPS JP¥103 (vs JP¥70.72 in FY 2019)

Revenue beats expectations

Lion Corporation, Annual General Meeting, Mar 30, 2021

Upcoming Dividend of JP¥12.00 Per Share

Lion Corporation to Report Fiscal Year 2020 Results on Feb 12, 2021

KOG Investments Pte. Ltd. agreed to acquire remaining 50% stake in Global Eco Chemicals Singapore Pte. Ltd. from Lion Corporation (TSE:4912).

Third quarter 2020 earnings released: EPS JP¥29.63

Revenue beats expectations

New 90-day high: €19.30

Third quarter 2020 earnings released: EPS JP¥29.63

Revenue beats expectations

New 90-day low: €16.60

Lion Corporation to Report Q3, 2020 Results on Nov 05, 2020

New 90-day low - €17.60

New 90-day low - €18.10

First half earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age