Avex Management

Management criteria checks 4/4

Avex's CEO is Katsumi Kuroiwa, appointed in Jun 2018, has a tenure of 6.42 years. total yearly compensation is ¥135.00M, comprised of 71.1% salary and 28.9% bonuses, including company stock and options. directly owns 0.25% of the company’s shares, worth €1.02M. The average tenure of the management team and the board of directors is 6.6 years and 10.4 years respectively.

Key information

Katsumi Kuroiwa

Chief executive officer

JP¥135.0m

Total compensation

CEO salary percentage	71.1%
CEO tenure	6.4yrs
CEO ownership	0.3%
Management average tenure	6.6yrs
Board average tenure	10.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Katsumi Kuroiwa's remuneration changed compared to Avex's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	JP¥161m
Jun 30 2024	n/a	n/a	JP¥117m
Mar 31 2024	JP¥135m	JP¥96m	JP¥987m
Dec 31 2023	n/a	n/a	JP¥1b
Sep 30 2023	n/a	n/a	JP¥2b
Jun 30 2023	n/a	n/a	JP¥4b
Mar 31 2023	JP¥157m	JP¥96m	JP¥3b
Dec 31 2022	n/a	n/a	JP¥1b
Sep 30 2022	n/a	n/a	JP¥3b
Jun 30 2022	n/a	n/a	JP¥3b
Mar 31 2022	JP¥134m	JP¥96m	JP¥919m
Dec 31 2021	n/a	n/a	JP¥20b
Sep 30 2021	n/a	n/a	JP¥18b
Jun 30 2021	n/a	n/a	JP¥15b
Mar 31 2021	JP¥274m	JP¥96m	JP¥13b
Dec 31 2020	n/a	n/a	-JP¥5b
Sep 30 2020	n/a	n/a	-JP¥3b
Jun 30 2020	n/a	n/a	-JP¥2b
Mar 31 2020	JP¥124m	JP¥96m	-JP¥1b
Dec 31 2019	n/a	n/a	-JP¥4m
Sep 30 2019	n/a	n/a	-JP¥992m
Jun 30 2019	n/a	n/a	JP¥2b
Mar 31 2019	JP¥121m	JP¥72m	JP¥2b

Compensation vs Market: Katsumi's total compensation ($USD871.83K) is about average for companies of similar size in the German market ($USD1.03M).

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

CEO

Katsumi Kuroiwa (52 yo)

6.4yrs

Tenure

JP¥135,000,000

Compensation

Mr. Katsumi Kuroiwa has been the President and Representative Director of Avex Inc. (formerly, Avex Group Holdings Inc.) since June 2018 and has been its Chief Executive Officer since June 2020. Mr. Kuroiw...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Katsumi Kuroiwa	CEO, President & Representative Director	6.4yrs	JP¥135.00m	0.25% € 1.0m
Shinji Hayashi	Head of Human Resources and General Affairs Div.	6.4yrs	JP¥119.00m	1.71% € 6.9m
Asahi Iwanaga	Group Corporate Executive of Technology	5.6yrs	no data	no data
Seiichi Hatamoto	Group Corporate Executive of Business Administration	7.8yrs	no data	no data
Hisaou Wakaizumi	Group Corporate Executive	7.8yrs	no data	no data
Hideo Katsumata	Group Corporate Executive	7.8yrs	no data	no data
Shinsuke Kato	Group Corporate Executive	7.8yrs	no data	no data
Daisuke Matsuda	Corporate Executive of CEO Direct HQ	6.6yrs	no data	no data
Shingo Toguchi	Group Corporate Executive	5.6yrs	no data	no data

6.6yrs

Average Tenure

Experienced Management: AX8's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Katsumi Kuroiwa	CEO, President & Representative Director	6.4yrs	JP¥135.00m	0.25% € 1.0m
Shinji Hayashi	Head of Human Resources and General Affairs Div.	31.6yrs	JP¥119.00m	1.71% € 6.9m
Toru Kenjo	Part-Time Director	14.4yrs	no data	no data
Masato Matsuura	Chairman	36.6yrs	JP¥289.00m	7.25% € 29.4m
Nobuyuki Kobayashi	Full-Time Director	4.4yrs	no data	0.0047% € 18.9k
Yoshihide Sugimoto	Independent Outside Director	4.4yrs	no data	no data

10.4yrs

Average Tenure

60yo

Average Age

Experienced Board: AX8's board of directors are seasoned and experienced ( 10.4 years average tenure).

Avex Management

Management criteria checks 4/4

Key information

Recent management updates

Avex Inc., Annual General Meeting, Jun 21, 2024

Less than half of directors are independent

Avex Inc., Annual General Meeting, Jun 23, 2023

Less than half of directors are independent

Avex Inc., Annual General Meeting, Jun 24, 2022

Less than half of directors are independent

Recent updates

Second quarter 2025 earnings released: JP¥4.58 loss per share (vs JP¥5.44 loss in 2Q 2024)

Avex Inc. to Report Q3, 2025 Results on Feb 13, 2025

Upcoming dividend of JP¥25.00 per share

Final dividend of JP¥25.00 announced

Full year 2024 earnings released: EPS: JP¥21.83 (vs JP¥60.79 in FY 2023)

Avex Inc. to Report Q1, 2025 Results on Aug 08, 2024

Avex Inc. Announces End of Year Dividend for the Year Ended March 31, 2024, Payable on June 7, 2024; Provides End of Second Quarter and End of Year Dividend Guidance for the Year Ending March 31, 2025

Avex Inc. Provides Consolidated Earnings Forecasts for the Fiscal Year Ended March 31, 2024

Avex Inc., Annual General Meeting, Jun 21, 2024

Full year 2024 earnings released: EPS: JP¥21.83 (vs JP¥60.79 in FY 2023)

Avex Inc. (TSE:7860) announces an Equity Buyback for 3,000,000 shares, representing 6.63% for ¥4,500 million.

Upcoming dividend of JP¥25.00 per share

Avex Inc. to Report Fiscal Year 2024 Results on May 09, 2024

Third quarter 2024 earnings released: JP¥22.56 loss per share (vs JP¥8.44 loss in 3Q 2023)

Avex Inc. to Report Q3, 2024 Results on Feb 08, 2024

New minor risk - Profit margin trend

Second quarter 2024 earnings released: JP¥5.44 loss per share (vs JP¥33.96 profit in 2Q 2023)

Less than half of directors are independent

Avex Inc. to Report Q2, 2024 Results on Nov 09, 2023

Avex Inc. Decides to Reorganize the Avex Group and Change the System for Execution of Business Operation

Avex Inc. to Report Q1, 2024 Results on Aug 10, 2023

Avex Inc. Announces Dividend for the Year Ended March 31, 2023, Payable on June 8, 2023; Provides Dividend Guidance for the Second Quarter and Year End of the Fiscal Year Ending March 31, 2024

Full year 2023 earnings released: EPS: JP¥60.78 (vs JP¥20.75 in FY 2022)

Avex Inc., Annual General Meeting, Jun 23, 2023

Upcoming dividend of JP¥25.00 per share at 3.3% yield

Third quarter 2023 earnings released: JP¥8.44 loss per share (vs JP¥17.65 profit in 3Q 2022)

Now 24% undervalued

Avex Inc. to Report Q3, 2023 Results on Feb 09, 2023

Avex Inc. Announces Dividend for the End of Second Quarter of the Fiscal Year Ending March 31, 2023, Payable on December 1, 2022; Provides Dividend Guidance for the Fiscal Year Ending March 31, 2023

Less than half of directors are independent

Second quarter 2023 earnings released: EPS: JP¥33.96 (vs JP¥35.57 in 2Q 2022)

Upcoming dividend of JP¥25.00 per share

Avex Inc. to Report Q2, 2023 Results on Nov 10, 2022

First quarter 2023 earnings released: EPS: JP¥37.20 (vs JP¥0.26 in 1Q 2022)

Avex Inc. to Report Q1, 2023 Results on Aug 04, 2022

Avex Inc. Announces Dividend for the Fiscal Year Ending March 31, 2022, Payable on June 9, 2022

Full year 2022 earnings released: EPS: JP¥20.75 (vs JP¥298 in FY 2021)

Avex Inc., Annual General Meeting, Jun 24, 2022

Less than half of directors are independent

Avex Inc. to Report Fiscal Year 2022 Results on May 12, 2022

Upcoming dividend of JP¥25.00 per share

Avex Inc. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2022

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Second quarter 2022 earnings released: EPS JP¥35.57 (vs JP¥36.35 loss in 2Q 2021)

Upcoming dividend of JP¥25.00 per share

First quarter 2022 earnings released: EPS JP¥0.26 (vs JP¥39.18 loss in 1Q 2021)

Avex Inc. Announces Consolidated Earnings Guidance for the Year Ending March 31, 2022

Full year 2021 earnings released: EPS JP¥298 (vs JP¥25.37 loss in FY 2020)

Upcoming dividend of JP¥96.00 per share

New 90-day high: €12.00

Third quarter 2021 earnings released: JP¥22.80 loss per share (vs JP¥41.90 profit in 3Q 2020)

New 90-day high: €10.70

New 90-day high: €9.30

GreenOak Asia III, LP managed by BentallGreenOak agreed to acquire Avex building in Tokyo from Avex Inc. (TSE:7860) for ¥72.8 billion.

Avex Inc. to Report Q3, 2021 Results on Feb 04, 2021

Second quarter 2021 earnings released: JP¥36.35 loss per share

Avex Inc. to Report Q2, 2021 Results on Nov 05, 2020

Avex Inc. Is Unable to Provide Earnings Guidance for the Year 2020

Avex Inc. to Report Q1, 2021 Results on Aug 06, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age