Japan Airport Terminal announces reforms, executive pay cuts

Japan Airport Terminal Co., Ltd. (TSE: 9706) announced today that it will implement several reforms, including a reorganization of its management structure, enhanced oversight, and measures to reform its organizational climate following a special investigation into compliance violations at one of its subsidiaries. The company will establish a Management Improvement Committee and a Corporate Governance Committee to improve oversight and transparency. As a sign of accountability, the company will reduce executive compensation, with the Representative Director and President, Kazuhito Tanaka, taking a 50% reduction in monthly compensation and bonuses for FY 2024. Similar reductions will be applied to other executives, including the Representative Director, Executive Vice President, and Executive Officer and the Senior Managing Director and Executive Officer. The reforms and compensation adjustments aim to restore trust among stakeholders.