Norimi Sakamoto
About Norimi Sakamoto
Independent Director at ABVC; age 54; Chair of the Compensation Committee. Background includes director at Shogun Maitake Canada Co., Ltd. since June 2016, CEO of MyLife Co., Ltd. (2013–2020), and early career at Sumitomo Corporation Hokkaido Co., Ltd. in Japan; BA in Travel & Tourism (Davis & Elkins College, 1993) and MS in Urban Studies (University of New Orleans, 1995). She is married to fellow ABVC Independent Director Yoshinobu Odaira; the Board has determined she is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MyLife Co., Ltd. | Chief Executive Officer | Jun 2013 – Mar 2020 | Not disclosed |
| Sumitomo Corporation Hokkaido Co., Ltd. | Early career (role not specified) | Began 1997 | Not disclosed |
External Roles
| Organization | Role | Tenure | Interlocks/Notes |
|---|---|---|---|
| Shogun Maitake Canada Co., Ltd. | Director | Since Jun 2016 | Her spouse, Yoshinobu Odaira, is CEO and Director of Shogun Maitake Canada; ABVC’s BioKey sources maitake mushrooms from Shogun Maitake Canada, creating potential related-party exposure . |
Board Governance
- Committee assignments: Chair, Compensation Committee; Compensation members are all independent directors (Sakamoto, Miao, Hsu) .
- Independence: Board determined Sakamoto is independent under Nasdaq rules; Audit, Compensation, and Nominating committees comprised solely of independent directors .
- Family relationships: Marital relationship between Yoshinobu Odaira and Norimi Sakamoto is disclosed (both serve on ABVC’s Board) .
- Corporate Governance & Nominating Committee is chaired by Odaira (Sakamoto is not listed as a member) .
Fixed Compensation
| Component | 2024 | Historical/Notes |
|---|---|---|
| Stock options to directors | None paid in FY 2024 | Company granted options to 5 directors on Apr 16, 2022 totaling 76,190 shares (post-split) at $30.00 strike; vested at grant; 10-year term . |
| Cash retainer, committee/meeting fees | Not disclosed | Not disclosed in 2025 proxy –. |
Performance Compensation
- No director performance-based metrics, PSUs, or bonus targets disclosed for Sakamoto; equity awards to directors were options (historically) and none were granted in FY 2024 .
Other Directorships & Interlocks
| Person | External Entity | Role | Potential Conflict/Exposure |
|---|---|---|---|
| Norimi Sakamoto | Shogun Maitake Canada Co., Ltd. | Director | ABVC’s BioKey sources raw mushrooms from Shogun Maitake Canada, suggesting potential related-party supply chain exposure . |
| Yoshinobu Odaira (spouse) | Shogun Maitake Canada Co., Ltd. | CEO & Director | Licensing partner background (Yukiguni Maitake); sits as ABVC Independent Director and chairs Nominating Committee . |
Expertise & Qualifications
- Business leadership (CEO experience), cross-border operations; director experience in agriculture/biotech supply chains via Shogun Maitake Canada .
- Education: BA in Travel & Tourism (1993), MS in Urban Studies (1995), indicating planning/operations training relevant to governance and oversight .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Shares Outstanding Reference |
|---|---|---|---|
| Norimi Sakamoto | 41,854 | <1% | 16,153,055 shares outstanding as of Apr 28, 2025 . |
| Yoshinobu Odaira (spouse) | 57,758 | <1% | 16,153,055 shares outstanding as of Apr 28, 2025 . |
Governance Assessment
- Strengths: Independent director chairing the Compensation Committee; all three key committees composed solely of independent directors, supporting formal independence and oversight structure .
- Risks / RED FLAGS:
- Marital tie to fellow director (Odaira) and external directorship at Shogun Maitake Canada; ABVC sources maitake mushrooms from Shogun Maitake Canada, creating potential related-party exposure and perceived conflict of interest despite Board’s Item 404 determination that no relationships required disclosure during the period .
- Board has proposed/renegotiated a significant related-party Land Proposal with director Shuling Jiang (issuance potentially ≥20% of outstanding shares), signaling broader related-party transaction tolerance and complexity that heightens governance risk profile (though not directly involving Sakamoto) .
- Alignment signals: Sakamoto holds 41,854 shares (<1%); no director options granted in FY 2024, with latest disclosed board-level director grants in 2022 being fully vested options—limited current at-risk equity for directors may temper direct pay-for-performance alignment .
Additional context: The Board is seeking to expand the equity plan share reserve (to 15% with automatic 5% annual increases until reaching 15% of prior-year outstanding), which can influence director compensation modalities and dilution; the Compensation Committee is independent, but careful monitoring of share usage and grant practices is warranted .