As part of the director induction process, each director of the Company (a “Director” and together, the “Board”) is briefed on their duties, including their duty under s.172 of the Companies Act 2006 (“Section 172”). The Board’s regard to the matters set out in Section 172 is embedded in their decision-making process, culture, management information flows and stakeholder engagement.
When making decisions, each Director has been instructed to act always in good faith and in a manner that promotes the Company’s success for the benefit of its sole shareholder, and in doing so has regard (among other matters) to:
The likely consequences of any decision in the long-term
Each of the Directors has a deep understand of the business and the evolving environment in which the Company operates. The Board’s business strategy is focused on achieving success for the Company and its sole shareholder in the long-term. Prior to making any decisions, each Director considers the long-term risks which are most significant to the Company’s business, in terms of both operational and financial impact. The Board acts to ensure that the Directors and the Company’s management team operate the business in a responsible manner, implementing high standards and good corporate governance.
The interests of the Company’s employees
The Company and the larger group of which it is a part (further details are available in the consolidated financial statements of SoftBank Group Corp. (the “SB Group”) work to attract, develop and retain the world’s best talent, equipped with the necessary skills to enable the Company and the SB Group to achieve success. The Board recognise that the Company’s employees play a crucial role in delivering against the Company’s strategies and creating value.
The Board acts to ensure that the Company consistently engages with its employee base to ascertain which training and development opportunities should be made available to improve each individual employees’ potential within the business. The Board works to ensure that the Company’s culture invites different perspectives, new ideas and opportunities for growth. The Board feel that the promotion of this culture has created an environment in which the Company’s employees consistently produce innovative and high-quality work. The Board is committed to ensuring that the Company’s employees feel valued and are recognized for such work.
The Company has adopted a Code of Conduct that clearly describes the standards of conduct we expect at the Company. Our Code applies to everyone at the Company including directors, officers and employees in every country, business unit, and corporate function. The Directors also have oversight of whistleblowing and routinely receive reports arising from the Company’s operation of an ethics and compliance helpline known as the “Integrity Helpline”.
The Board encourages employee health, fitness and general wellbeing. As part of this commitment, the Company provides a generous annual allowance to each of its employees which can be utilised to access certain wellbeing memberships or programmes.
The Company’s other stakeholders
The Board regularly considers issues concerning the Company’s various stakeholders and takes such considerations into account in the Company’s decision-making process.
The Board promotes a culture of upholding the highest standards of business conduct. The Board ensures that the Company’s management team ensure that such values are communicated to each of the Company’s stakeholders and are embedded in the Company’s policies and procedures, employee induction and training programmes including the Code of Conduct.
The Company’s approach to social responsibility, diversity and the community is of high importance. The Board strive to create sustainable value and corporate social responsibility principles are part of the Company’s and the SB Group’s culture and decision-making process.