Our external reporting mainly consists of statutory entity reporting and group reporting. Finance also produces internal reports on brand performance as well as individual profit and cost centers to help support our management in their decision making. Our Finance department also coordinates successful implementation of business decisions across the company, focusing on compliance, system set up and adding value. A key part of the Finance team is the Credit department who manage our customer portfolio.
Around 30% of people employed by Finance work in one of our three Business Service Centers (BSCs), based in Kuala Lumpur, Manchester and St Petersburg, where over 5 million financial transactions are managed annually.
The BSCs capture data in many different forms from many different sources, verifying it, cross-referencing it with other documentation, processing it, storing it for the record and ensuring that every step complies with strict rules of corporate governance.
In 2006 our Tax and Treasury functions merged with those of Japan Tobacco Inc to deliver greater operating efficiency and ultimately greater shareholder value.
Tax – optimizing the Group’s overall tax strategy and advising the businesses on tax matters arising from changes in their markets and factories.
Taxation is a dynamic and complex field of work that incorporates the management of various forms of direct and indirect taxation in markets around the world, such as excise tax, customs duties and value added taxes (VAT).
Local knowledge and sound strategic direction both have a critical part to play in optimizing the company’s global tax strategy.
Treasury – the company’s wealth manager. Broadly speaking, it is responsible for securing investment, managing risk and optimizing cash flow.
It has a key role to play in the company’s relationships with banks, rating agencies and other external financial stakeholders whose business perspective is predominantly global.
As a Swiss subsidiary of Japan Tobacco Inc, we are fully compliant with J-Sox and CH-Sox requirements for governance and financial reporting by Japanese companies. As a Swiss company, we fully comply with Swiss requirements related to internal control systems.