- Product and Service Compliance
TSC products must comply with local regulations and customer requirements, including Act Governing Food Safety and Sanitation, Health Food Control Act, Pharmaceutical Affairs Act, Food Administration Act, Organic Agricultural Product and Organic Agricultural Processed Product Certification Management Regulations. In 2020, there were no violations of product health and safety, service information and labeling, marketing communications and voluntary codes.
- Information Transparency and Stakeholder Participation
Information disclosure is an important responsibility in a company’s operations, and enterprises are obligated to faithfully disclose information. To transfer the major information of TSC to the general public and internal organizations of the company in a timely manner, a highly efficient communication system has been established. Information disclosure is also strengthened in accordance with the “Principles of Unified Handling of Proceedings of Board of Directors for Business Units Affiliated with the MOEA” and the company’s “Directions for Online Filing” and “Main Points of Press Release and Public Opinion Report”. In addition, special sections of Corporate Governance and Corporate Sustainability Development have been set up on TSC web page, and there is also designated personnel in charge of the collection and disclosure of TSC’s information to provide relevant information in a timely manner.
In addition, information of the operation status and the remunerations of BOD and the Audit Committee, environmental protection, social services, public welfare and good-neighborliness, safety and health and customer service and the status of social responsibility fulfillment as well as information concerning the interest rate, exchange rate changes, inflation and others are all disclosed in the Annual Report.
TSC has been making efforts to improve information transparency and enhance communication with stakeholders. Therefore, TSC was affirmed long-term “twAA-” and short-term “twA-1+” rankings by Taiwan Ratings, with “outlook stable”. Furthermore, the rating among global debtors in financial constitution is rated as “extremely robust” and its rating in management and governance is als“satisfactory”.
To strengthen the bilateral communication with our stakeholders, TSC has implemented various measures as follows.
- Face-to-face meeting: For proposals they are interested in, shareholders can come to the headquarters to have a face-to-face opinion exchange with the chairman or relevant supervisors on the first Monday of every month.
- Regular shareholders’ meeting: To ensure the right of participation and power of decision of shareholders, a regular shareholders’ meeting is held once a year. In addition to reporting on the operating results of the previous year and future strategies, matters for ratification and discussions on major proposals are also reported. Shareholders’ questions are also answered in a timely manner. The shareholders’ meeting was held on June 11, 2020.
- Proceedings of Shareholders’ Meetings: The proceedings of the shareholders’ meetings are recorded as required. Relevant information is uploaded to the MOPs and TSC’s official website for shareholders’reference.
- Labor Director: Representatives assigned by trade unions appointed by the Ministry of Economic Affairs act as labor directors and participate in corporate governance.
- Employee Participation: Labor-management meetings (a total of 72 meetings were held in 2020), Welfare Committee meetings, Labor Safety and Health Committee meetings, and meetings of the “Employees’ Retirement Funds Management Committee” and “Labor Retirement Reserve Supervisory Committee” are regularly convened.
- Symposiums: The chairman of the BOD convenes symposiums and invites employees from all units to listen to their opinions on management.
