Japan Tobacco : JT Announces New Executive Appointments and Partial Amendment to Its Articles of Incorporation

Published: 2021-11-24 01:10:17 ET 2914.T

FOR IMMEDIATE RELEASE

Tokyo, November 24, 2021

JT Announces New Executive Appointments and

Partial Amendment to Its Articles of Incorporation

Japan Tobacco Inc. (JT) (TSE:2914) announces that the Board of Directors has made resolutions

concerning the Company's new executive appointments, and partial amendment to the Company's

Articles of Incorporation.

1. Changes in Executive Appointments

(1) Changes in Members of the Board (Effective from March 23, 2022)

Name

Current Responsibilities

Shigeaki Okamoto

Former Administrative Vice Minister, Ministry of Finance

Tetsuya Shoji

Corporate Advisor, NTT Communications

Outside Director, Sapporo Holdings Limited

Outside Director, Hitachi Zosen Corporation

Outside Director, Mitsubishi Logistics Corporation

Note: Mr. Shoji is a candidate for Outside Director, set out in Article 2, Item (xv) of the Companies Act of Japan.

Name

Current Responsibilities

Yasutake Tango

Chairperson of the Board

Name

New Responsibilities

Current Responsibilities

Mutsuo Iwai

Chairperson of the Board

Deputy Chairperson of the

Board

Shigeaki Okamoto

Deputy Chairperson of

Former Administrative Vice

the Board

Minister, Ministry of Finance

Note: The changes in Members of the Board are subject to ratification at the 37th Annual General Meeting of Shareholders, scheduled for March 23, 2022, and approval at the Company's Board of Directors' meeting, scheduled subsequently.

(2) Changes in Executive Officers (Effective from January 1, 2022)

Name

New Responsibilities

Nobuya Kato

Senior Vice President, Chief Financial Officer

Yoshiyuki Mishima

Senior Vice President, People & Culture

Name

New Responsibilities

Naohiro Minami

Executive Vice President, Finance and Corporate

Communications

Kiyohide Hirowatari

Executive Vice President, Corporate Strategy,

Sustainability, People & Culture, Information Technology,

Legal, Operation Review & Business Assurance,

Pharmaceutical Business and Food Business

Kazuhito Yamashita

Senior Vice President, Corporate Governance, Compliance

Junichi Fukuchi

Senior Vice President, Chief Executive Officer, Tobacco

Business, Japan

Yuki Maeda

Senior Vice President, Chief Financial Officer, Tobacco

Business, Japan

Eiichi Kiyokawa

Senior Vice President, Sales, Tobacco Business, Japan

Kenji Ogura

Senior Vice President, Corporate Affairs & Communications,

Tobacco Business, Japan

Chigusa Ogawa

Senior Vice President, Leaf Procurement, Tobacco

Business, Japan

Yasuhiro Nakajima

Senior Vice President, Head of RRP Japan Office, Tobacco

Business, Japan

Shuichi Hirosue

Senior Vice President, Marketing, Tobacco Business, Japan

Akihiro Koyanagi

Senior Vice President, Manufacturing, Tobacco Business,

Japan

Daniel Torras

Senior Vice President, Performance & Integration, Tobacco

Business, Japan

Kei Nakano

Senior Vice President, Corporate Strategy

Takehisa Shibayama

Senior Vice President, Information Technology

Hiroyuki Fukuda

Senior Vice President, Corporate Communications

Osamu Hirose

Senior Vice President, General Counsel

Hisato Imokawa

Senior Vice President, Chief Sustainability Officer

Note: JT revises its operational model of tobacco business effective January 1st, 2022, as announced earlier "JT Group Announces New Operating Model Company Aims to Strengthen its Tobacco Business" on February 9th, 2021. Further, the titles changes of Corporate executive officers reflect the organizational changes.

Name

Current Responsibilities

Hiroyuki Miki ※

Senior Vice President, R&D Tobacco Business

Toru Hijikata ※

Senior Vice President, Quality Assurance

Toru Oguchi

Senior Vice President, Head of China Division

Takanori Kikuchi

Senior Vice President, General Affairs

Koichi Mori

Senior Vice President, Human Resources

Note: R&D and Quality Assurance functions of the tobacco business will be combined to be global functions. Effective from January 1st, 2022, Mr. Miki will focus on his role as Senior Vice President R&D of JTI SA and Mr. Hijikata will take office as Chief Quality Officer of JTI SA.

2. Partial Amendment to the Article of Incorporation (Effective from March 23, 2022)

The Company will amend an Article regarding the term of the Board of Directors to one year from the current stipulated two-year term in order to build a management foundation to address the changes in the business environment in a timely manner and to strengthen its corporate governance by clearly defining the responsibilities of the directors and enhance the trust with shareholders.

(2) Details of the Amendment

*Underline indicates amended portions

Current

Proposed Amendment

Article 22. (Term of Office of Members

of the Board)

1. The term of office of a Member of the

Board shall expire at the close of the

ordinary General Meeting of Shareholders

for the latest business year ending within

two yearsafter his/her election.

one yearafter his/her election.

2. The term of office of a Member of the

2. (remains unchanged)

Board who is elected to fill a vacancy or in

addition to those already in office shall be

conterminous with the remaining term of

office of the other Members of the Board in

office.

Note: The Amendment will be effective upon ratification at the 37th Annual General Meeting of Shareholders scheduled for March 23, 2022 and following the approval by the Minister of Finance in accordance with the Japan Tobacco Inc. Act.

###

Japan Tobacco Inc. is a leading international tobacco company with operations in more than 130 countries. With approximately 58,000 employees, it manufactures and sells some of the world's best-known brands including Winston, Camel, MEVIUS and LD. The JT Group is committed to investing in Reduced-Risk Products (RRP) and currently markets its heated tobacco products under its Ploom brand and various e-cigarette products under its Logic brand. The Group is also present in the pharmaceutical and processed food businesses. For more information, visit https://www.jt.com/.

Contacts:

Dinesh Babu Thotakura, General Manager

Media and Investor Relations Division

Japan Tobacco Inc.

Tokyo: +81-3-6636-2914

E-mail: [email protected]

Supplementary Material

JT's New Executive Appointments

Members of the Board

Proposed as of March 23, 2022.

Chairperson of the Board

Mutsuo Iwai

Deputy Chairperson of the Board

Shigeaki Okamoto

Representative Director

Masamichi Terabatake

Representative Director

Naohiro Minami

Representative Director

Kiyohide Hirowatari

Member of the Board

Kazuhito Yamashita

Member of the Board

Main Kohda

Member of the Board

Yukiko Nagashima

Member of the Board

Masato Kitera

Member of the Board

Tetsuya Shoji

Audit and Supervisory Board Members

Proposed as of March 23, 2022.

Standing Audit and Supervisory Board Member

Ryoko Nagata

Standing Audit and Supervisory Board Member

Hiroshi Yamamoto

Standing Audit and Supervisory Board Member

Toru Mimura

Audit and Supervisory Board Member

Hiroshi Obayashi

Audit and Supervisory Board Member

Koji Yoshikuni

Notes: Ms. Kohda, Ms. Nagashima, Mr. Kitera and Mr. Shoji are Outside Director, set out in Article 2, Item (xv) of the Companies Act of Japan.

Mr. Mimura, Mr. Obayashi and Mr. Yoshikuni are Outside Company Auditors, set out in Article 2, Item (xvi) of the Companies Act of Japan.

Please refer to JT Group website https://www.jt.com/media/news/2021/1124_01.htmlfor more details on the skillset of 'Members of the Board' and 'Audit and Supervisory Board Members'

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Disclaimer

Japan Tobacco Inc. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 06:09:05 UTC.