Mitsui & Co. Group has introduced systems to ensure appropriate assessment and remuneration according to individual performance based on the principle of equal pay for equal work. Specific remuneration structures are based on the pay-for-performance principle, whereby rewards are linked with the abilities and results demonstrated by each employee. They maintain remuneration at competitive levels while also reflecting other factors, such as individual contributions and regulatory requirements in the countries where we are developing business.

In addition to these assessment and remuneration systems, we also provide appropriate benefits designed to enhance employees’ welfare and health, as well as support in line with changing life plans and lifestyles. These systems are also tailored according to circumstances in individual regions and companies.

Mitsui provides opportunities for early promotion and advancement to positions of responsibility for employees who demonstrate high levels of ability. At the same time, demotion is also a possibility under these systems. We support the personal growth of individuals while maintaining a healthy sense of tension.

Mitsui’s appraisal system consists of “Individual Competency Appraisal” and “Contribution Appraisal”. Individual Competency Appraisal assesses a person's demonstrated abilities from the perspective of the values of Mitsui’s MVV. The total appraisal point score over three years is reflected in the individual’s promotion and salary. By using cumulative points from appraisals for three years, it becomes possible to avoid a one-time effect and facilitate individuals’ growth over multiple years. Contribution Appraisal is a system that assesses the value added to, and the degree of contribution made to, the organization by the employee, as well as the degree to which the employee has taken on challenges to achieve a difficult target, and reflects these assessments in cash-bonuses. To ensure appropriate contribution appraisal, employees and their managers must engage in in-depth discussions to reach a common understanding of the established targets, so that the targets will be challenging and meet organizational strategies.

In August 2020, we introduced a share-based compensation plan for employees. The goals were to unite our diverse employees with management, and strengthen our commitment to increasing corporate value in the medium and long term. This compensation system covers some 5,000 employees who have been with us for longer than four years. The system grants point to each employee each fiscal year in accordance with their appraisals. When employees who meet certain requirements retire, Mitsui shares will be given according to their cumulative number of points. By appropriately rewarding each employee’s efforts and encouraging the changing of employee awareness and behavior toward improving corporate value over the medium to long term, we aim to create new value that will contribute to the development of a sustainable society and further improve employee engagement.