Tokyo-based electronic trading services provider Monex Group, Inc. (TYO:8698) has adopted a policy of the recoupment of remuneration (claw-back) in connection with officers’ remuneration.

The policy envisages:

1. If, within three years following the removal of the restriction on transfer of restricted stock remuneration (the “RS”) awarded to the Executive Officers of the company, it has been found that a significant accounting error or misconduct, etc. in the company group has occurred, Monex, after deliberation, may require that the Executive Officers who have committed or have been involved in such actions return all or a part of the RS without any consideration.

2. Furthermore, if, within three years following the award of performance-based remuneration to the Executive Officers of the Company, it has been found that a significant accounting error or misconduct, etc. in the Company group has occurred, the Company, after deliberation, may require that the Executive Officers of the Company return all or a part of their performance- based remuneration.

The Policy becomes effective on April 24, 2023, and will apply to the RS and performance-based remuneration of the Executive Officers of the company for which the fiscal year ended March 31, 2023 or any subsequent fiscal year is an evaluation period.