Governance and compliance
All JT Group operations are required to comply with the high standards of business integrity laid down in the JT Group Code of Conduct. These include preventing bribery and corruption, avoiding discrimination, respecting human rights, environmental protection, data privacy, and fair competition.
- JT Corporate Governance Report was updated on March 20, 2019.
- Board of directors held 15 board meetings with attendance rate of 99%.
- 3 JT Group Compliance Committee were held to discuss key compliance issues.
- The remuneration of the board of directors, including the CEO, comprise of:
1) base salary paid monthly
2) executive bonus linked to our business performance in the relevant year, and
3) stock option grants, the value of which is linked to our mid- to long-term company value.
- As for 2), bonus payment of executive directors, this is linked to the group profit target, which is the adjusted operating profit at constant currency. The bonus payment of executive director are also linked to profit for the period.
- As for 3), the stock option scheme is a time vesting long-term incentive scheme, as stock options can only be exercised by our executive post their retirement. The scheme is therefore aligned with our long-term corporate value.
Corporate governance evolution
- FY2000 Establishment of the Compliance Committee
- FY2001 Introduction of executive officer system
- FY2006 Establishment of the Compensation Advisory Panel
- FY2012 Outside directors elected to the board
- FY2016 Establishment of JT Corporate Governance Policy