ASK A HD
REPORT

2022

Integrated Report April 1, 2021 March 31, 2022
ASKA Pharmaceutical Holdings Co., Ltd.

Total Healthcare Company
with a Strong Foundation
as a Specialty Pharma Company

Corporate Message

For a Healthy Tomorrow and Future.
ASKA Pharmaceutical Holdings Co., Ltd. was established in April 2021, marking a major step forward.

Editorial Policy

Amidst major healthcare-related changes in the social environment, we launched ASKA Pharmaceutical
Holdings’ Medium-Term Management Plan 2025 in order to respond to the trust we have received
from society, and to continue to contribute to society.

ASKA Pharmaceutical Holdings Co., Ltd. issues the ASKA HD Report as an Integrated Report (Annual Report) tocommunicate messages from management on the Company’s management strategies and priority issues. It also includes
information on the Company’s environmental, social and governance (ESG) initiatives and finances. Information basedon the seven core principles of ISO 26000, the international standard for social responsibility, and its classifications, ispresented on the Company’s website. ASKA HD REPORT 2022 introduces the initiatives of ASKA Pharmaceutical, ASKA
Animal Health and ASKA Pharma Medical under the theme of clarifying and promoting a better understanding of thestrengths of ASKA Pharmaceutical Holdings.
In producing this report, we narrowed down the most important information, based
英文ロゴon the opinions and inquiries ofour stakeholders. We hope this report will help promote dialogue with our stakeholders.

Based on our business as a specialty pharma company, we will promote environmental, social andgovernance (ESG) initiatives, and take on the challenge of helping to realize a prosperous society.

Corporate Philosophy

Contribute toward the improvement of people’s
health and progress in society through thedevelopment of innovative productsContents• GRI Standards• Value Reporting Foundation (VRF) (currently IFRS Foundation), Integrated Reporting Framework• ISO 26000 Guidance on social responsibility• Ministry of Economy, Trade and Industry, Guidance for Integrated Corporate Disclosure andCompany-Investor Dialogue for Collaborative Value Creation• Ministry of the Environment, Environmental Reporting Guidelines (2018)• Recommendations of Task Force on Climate-related Financial Disclosures (TCFD) (Final Report),
and others

Reported Matters

Value Creation Story

20	Business Activities

2

21	Business Conditions

History of Value Creation

Referenced Guidelines and Frameworks

4	Financial and Non-Financial
Highlights

21	ASKA Pharmaceutical

6	Message from the President

28	ASKA Pharma Medical

26	ASKA Animal Health10	Material Issues
12	Value Creation Process

Foundation for Value Creation

14	ASKA Pharmaceutical
Holdings’ DNA

30	Sustainability at ASKA
Pharmaceutical Holdings
31	E: Environmental

Explanation of Strategy

33	Human Resources

16	Financial and Capital Strategy

37	S: Social

18	ASKA Pharmaceutical
Holdings’ Medium-Term
Management Plan 2025

39	Reliability Assurance

40	Messages from Outside
Directors• Period: April 1, 2021 to March 31, 2022 (includes some information from outside the period)• Scope: ASKA Pharmaceutical Holdings Co., Ltd. and consolidated subsidiaries

41	G: Corporate Governance/
Compliance/Risk Management

Note: In principle, this report covers the activities of ASKA Pharmaceutical Holdings Group. However, when activities and data are for ASKA Pharmaceutical Co.,
Ltd. (non-consolidated), “ASKA Pharmaceutical” is indicated.

46	Board Members and Corporate
Officers
Data Section48	10-Year Summary ofConsolidated Financial Results

Note on Forward-Looking Statements in This Report
Information on the Group’s business outlook and other forward-looking statements presented in this report are basedon the judgment of the Group’s management, which relies on various information at the time of publication. Please beaware that actual results may differ significantly from the current outlook due to changes in market trends, economic
conditions or other factors.
背景色がある場合（白マドをとる）

50	ASKA Pharmaceutical Holdings’
Information Disclosure
51	Company Information/
Shareholder Information

ASKA HD REPORT 2022

1

Value Creation Story

History of Value Creation

Since our founding in 1920 as a pioneer in hormone preparations, we have ceaselessly continued
our journey, while always keeping in mind our essential mission as a company that is directly linked
to life and health. In 2021, we transitioned to a holding company structure, and took a new step

Continue to takeon challenges andFormation of ASKA Pharmaceutical Co., Ltd.
aim for further
growth2005 – 2021

toward the next 100 years. We will continue to respond to changes in the times and theenvironment, and contribute to society as we evolve into a total healthcare company.

Become a Total Healthcare Company with a Strong
Foundation as a Specialty Pharma Company
1920 – 1955
Took our first step as a pharmaceutical company
In 1920, Yasohachi Yamaguchi established Teikoku Hormone
Research Institute. It began research, development,
manufacture and sales of hormone preparations based on
the unique idea of creating useful medicines from animalorgans. Although the company experienced hardships suchas the Great Kanto Earthquake, and the loss of its head office
and factory during the Second World War, it was rebuilt
under a new organizational structure, and listed its shares on
the Tokyo Stock Exchange in 1955.

After the postwar reconstruction period, the company
worked to modernize its management throughorganizational reforms, expansion of its sales andproduction systems, reorganization of its researchfunctions, and reinforcement of its advertising activities. In
addition to entering the field of veterinary pharmaceuticals,
the company also strived to diversify its business and worked
toward corporate growth in the midst of an era of rapid
economic growth.

Launched in 1921

In 2005, ASKA Pharmaceutical Co., Ltd. was established to develop andmarket new drugs, specializing in the three priority areas of internal
medicine, obstetrics and gynecology (Ob/Gyn), and urology with theaim of becoming a competitive specialty pharma company. The
company took on challenges for the next stage, such as strengthening
efforts for generic drugs that meet the needs of the times.

1955 – 2005

Became a company that makes wide-ranging
contributions to society

Launched in 1981

Launched in 1922

Male gonadal hormone agent

Hypothyroidism agent

SPERMATINTHYRADIN

Benign prostatic hyperplasia
and prostate cancer agent

Launched in 2011
Hyperlipidemic agent

Launched in 2014
Antihypertensive agent

Launched in 2016
Hepatic encephalopathy agent

LIPIDILCANDESARTAN “ASKA”

RIFXIMA

Gastritis and gastric ulcer agent

ATONIN

ALTAT

million45,849RELUMINA

Launched in 2014
Endometriosis, uterine fibroids,and prostate cancer agent

LEUPRORELIN “ASKA”

Launched in 2016
Infertility agent

Launched in 2018
Dysmenorrhea agent

LUTEUM

FREWELL “ASKA”

Formation of ASKA
Pharmaceutical
Holdings
Co., Ltd.

Launched in 2020
Hypothyroidism agent

THYRADIN (injection)

2020
100th anniversary of
the foundation of ASKA
PharmaceuticalCo., Ltd.

Low-dose oral contraceptive

ANGE

Launched in 2021
Hair hormone levelmeasurement kit

Dihydrotestosterone

2013

23,537

Formation of ASKA
Animal HealthCo., Ltd.

Launched in 1986

Posterior pituitary hormone agent¥56,6072021

24,390

Launched in 1926

FY2021

Launched in 2019
Uterine fibroids andendometriosis agent

Launched in 1999

PROSTAL

2021 –

ASKA Pharmaceutical Holdings’ Medium-Term Management Plan 2025 was launched in 2021.
In conjunction with the shift to a holding company structure, the Company not only aims tobuild a flexible organization that is capable of swift decision-making, but also to achieve further
sustainable growth for the entire Group by further strengthening its governance structure.

Launched in 2021
Feline hyperthyroidism agent

THYLOBLOCK

2008
Formation of ASKA
Pharma Medical
Co., Ltd.
12,409

1920

2005

10000
Founded
Teikoku
Hormone ResearchInstitute

Net sales (Millions of yen)

(FY)

1920

Line item

0.038

4.115

294

1929

1940

1950

Sales profit

Fiscal year-end
Six-month settlement period(Two six-month periods were combined
for the data for years 1930-1937)

2

ASKA HD REPORT 2022

Formation of ASKA
PharmaceuticalCo., Ltd.

4,929

Product proceeds

Eight-monthsettlement period

Product sales

940
1960

1970

1980

1990

Net sales

Twenty-four-monthTen-month settlement period
settlement period
Four-month settlement period

2000

2010

2020

Net sales
Six-month settlement period

Consolidated accounting(Merged with Grelan Pharmaceutical Co., Ltd. in October 2005)
ASKA HD REPORT 2022

3

Value Creation Story

Financial and Non-Financial Highlights

Operating Performance

Environment

P. 31-32(Figures for ASKA Pharmaceutical Co., Ltd.)

Operating Profit /Operating Profit Margin

Net Sales

Sales Ratio of Brand-name Drugs to Generic
Drugs (Prescription Pharmaceutical Business)

ROE / ROA

CO2 Emissions

Water Pollution Load

先発品とジェネリック医薬品の売上比率推移
営業利益

売上高

56,607(Millions of yen)

60,00050,00048,944243
4,572

55,18152,542125

189

46,7065,000

8.5

4,742 5,630

4,502

278

186

6.5

40,00050,791

3,000

44,127

0

1,000

2017

2018

2019

2021

2020

Veterinary
pharmaceuticals(FY)

Others

Net sales rose 2.6% year on year to a record
high of ¥56,607 million, primarily thanks togrowth in sales of our mainstay products
THYRADIN, RIFXIMA and RELUMINA, as wellas veterinary pharmaceuticals.

0

8

3

1,782

2017

2018

Operating profit(left axis)

2

1,507

2019

2020

2021

100

15,000

5.9

6.3

5.8

64.0

6

(kg)

12,525

12,203

60.5

58.5

50.1
53.2

140 12,251

0

111

152
0

0

4.1

8,977

500

40

10,133

300

0

255

9,602

6,000

2.1

2

(FY) 0353

10,308

200

2.7

1

601

573

600

400

9,058
3.8

155

9,000

60

4.6

12,953183

012,00013,215

3

1

20

36.0

39.5

41.5

46.8

49.9
3,000

2,701

1.5
644
2017

2018

ROE

Operating profit margin(right axis)

Net sales increased and SG&A expenses
decreased, resulting in a 32.9% increase inoperating profit to ¥4,795 million.

(t-CO2)

80

7

4

3,609

(%)

203

4

2.9

2,824

Prescription
pharmaceuticals

9

8.8

5

3.8

2,000

10,000

9

5

4,795

20,00010

647,851
41,757

(%)

7

5.8

50,31430,000

(%)

8

4,000

4,669

水質汚濁負荷量

CO2排出量(Millions of yen)

2019

2021

2020

(FY)

ROA

0

2017

2018

Brand-name drugs

2019

2020

2021

By expanding our development pipeline,■■ 先発品 ■■ ジェネリック品
and strengthening our drug discovery andalliance activities, we have established asystem that enables us to continuously
create new drugs (brand-name drugs).

ROE rose 2.5 percentage points from theprevious fiscal year to 8.8%, while ROA
rose 2.1 percentage points to 5.9%.

0

(FY)

Generic drugs

2017

Head office
Others2,398 2,160 2,169
564

504

1,992
486 504

2018

2019

2020

Research center*
Sales offices

150
264

229

2021

182

100

(FY)

Iwaki Factory

Total emissions decreased by 963 tons to
12,251 tons. At the Iwaki Factory, efforts
are being made to save energy by
improving the efficiency of cogeneration
system operations.

0

2017

BOD

2018

2019

127

92

2020

2021

(FY)

COD

At the Iwaki Factory, efforts were made to
improve the efficiency of the manufacturing
process, reducing BOD by 35 kg and COD
by 105 kg from the previous fiscal year.

* The Kawasaki Research Center was relocated to the
Shonan Health Innovation Park and renamed the Shonan
Research Center in FY2020.

Human Resources

P. 33-36(Figures for ASKA Pharmaceutical Co., Ltd.)

Total Assets / Net Assets

Ratio of Cost of Sales to Net Sales

総資産および純資産

売上減価率推移(Millions of yen)(%)

R&D Expenses / Capital Expenditures*

Number of Employees(Breakdown of Men and Women)

Percentage of Female Managers

Percentage of Male Employees
Taking Childcare Leave

従業員数（単体）＊女性従業員数／女性管理職比率

研究開発費(Millions of yen)

(%)

(%)

10

100

4,913
100,000

5,000

65

83,297

82,19461.4

80,239 82,582

4,493

60

804

3,598

4,000

66,23560,00054.3

20,000

0

3,000

604

43,4562017

Total assets

2018

2019

2020

2021

(FY)

585

563

538

ASKA HD REPORT 2022

6.8

6.9

73

80

7.1

66

6.4

59

6

60

4

40

2

20

52

525

0

2017

2018

2019

2020

2021

(FY)

0

200

1,443

2017

2018

R&D expenses

We are striving to improve productivity
and reduce manufacturing costs, while
prioritizing quality assurance and ensuring
a stable supply. In FY2021 the cost of sales
ratio decreased to 53.4%.

2019

765

657

2020

2021

(FY)

Capital expenditures

As for R&D, although costs will fluctuate
due to expansion of the development
pipeline, we are continuing to actively
invest in our three priority areas.
* Capital expenditures are for property, plant and equipment
and software (transfer basis).

0

200

205

211

211

213

2017

2018

2019

2020

2021 (FY)

Women

Men

We aim to create value for the organization
by ensuring that a diverse range of humanresources are able to play active roles,
regardless of their attributes. The numberof female employees has increased year by
year, and the ratio of female employees isnow 28.9%.
Note: The number of full-time employees.

4

80
8

2,040
1,000

Net assets

Despite a decrease in intangible assets dueto the cancellation of development, cash
and deposits increased due to transfer ofproperty, plant and equipment, and total
assets increased by ¥714 million from theprevious fiscal year end. Net assets
increased by ¥4,381 million.

738

2,994
45

44,510

749

400

2,000

48,892

41,573

774

600

54.0

50

42,559

790

800

5.8

53.4

55

40,000

1,000

4,055

59.6

80,000

4,709

0

2017

2018

2019

2020

2021

(FY)

Percentage of Female Managers

We strive to create a working environment
where women can fully demonstrate theirabilities and play active roles. The percentage
of female managers was 7.1% at the endof FY2021.

0

2017

2018

2019

2020

2021

(FY)

Percentage of Male Employees Taking
Childcare Leave

We are deepening our understanding ofgender bias, and are fostering a culture inwhich male employees actively participate
in child rearing.
Notes: 1. Percentage of male employees who took childcare
leave, among those whose spouses gave birthduring the fiscal year
2. Expected rate of male employees taking childcare
leave in FY2021

ASKA HD REPORT 2022

5

Value Creation Story

Message from the President

Progress of Medium-Term Management Plan 2025 andGroup Management Based on Risk Diversification

We aim to be a total healthcarecompany, with an unwaveringcommitment to helping to create

In FY2021, the first year of ASKA Pharmaceutical“specialty,” ”ability to create,” and “social contribution.”

Holdings’ Medium-Term Management Plan 2025, weAs the strong performance indicates, the Group as apromoted the seven strategies to achieve the numericalwhole is making steady progress in each strategy.

targets set forth in the plan based on the foundation ofa sustainable society.
Takashi Yamaguchi

Medium-Term Management Plan 2025 Objective

Become a Total Healthcare Company with a Strong Foundation as a Specialty Pharma Company
Numerical Targets

Net sales: ¥70 billion

President , Member of the Board of

Directors , Representative Director
ASKA Pharmaceutical Holdings

See pages 18-19 for details.

Operating profit margin: 8%

ROE: 8%

Four Visions

1

Expand business scope centered on
pharmaceutical products

2

Improve business operations by promoting
open innovation3

Become the top domestic company in our
specialty areas for pharmaceutical products

4

Continue to be a company that is trusted
by society

The Foundation for Formulating the Medium-Term Management Plan

Uncertainty increased in the business environment in
FY2021, primarily due to the prolonged impact of theSpecialty

COVID-19 pandemic and the political situation in

Ability to create

Social contribution

Russia and Ukraine. However, momentum in Japan tosupport women’s health and further promote theiradvancement in society as well as growing interest in
healthcare in the context of a super-aging society

In particular, in the area of “specialty,” we havepositively impacted the Group’s businesses. The corealready achieved concrete results, including success indifficulty of R&D. As such, risk management is very
important in determining how to respond and deciding

pharmaceutical business centered on Ob/Gyn products

increasing the presence of RELUMINA (relugolix) in theon a course of action when an event that has a significant

performed well, as did the animal health business. The

Ob/Gyn field, obtaining manufacturing and marketing

impact on business occurs. To diversify management

first year of ASKA Pharmaceutical Holdings also got off

approval for DroEthi (drospirenone/ethinylestradiol),risk, we are not focusing on a single pillar of our business,to a good start with the highest sales since theand advancing drug discovery. In overseas operations,but rather on multiple pillars that can contribute tofounding company's establishment in 1920.

which is one of our seven strategies, results were

earnings. It is important to develop the animal healthaffected by the continued impact of the COVID-19

business and the hormone testing business into suchpandemic. However, we have made progress, mainly inpillars in the future. To do so, we will establish a

Asia, for example, by providing technical support for

management system that can respond to potential risks

the construction of a new plant for Hataphar (Ha Tay

and changes in the environment. Expanding multiple

Pharmaceutical Joint Stock Company), a Vietnamesepillars at an early stage while maintaining thepharmaceutical company that is one of our equity-

pharmaceutical business as the core of our business will

method affiliates.

give us greater flexibility. We will solidify our management

In the pharmaceutical business, our core business,base as a holding company by 2025 and look beyond

there are various risks that may affect management duethat to create products that bring new value to society

to ongoing drug-pricing reforms in Japan’s Nationaland more innovative services.

Health Insurance (NHI) system and the increasing

6

ASKA HD REPORT 2022

ASKA HD REPORT 2022

7

Value Creation Story

The Unwavering Strengths

Establishing a Company-wide Action Plan and KPIs

of the ASKA Pharmaceutical Holdings Groupfor the Advancement of ESG Management

Since its establishment in 1920, the Group has been

product lineup backed by our specialty and our ability

As society as a whole begins to place stronger emphasis

In addition, we have established a Company-wide

engaged in R&D with a focus on hormone preparations.

to provide information,” and “our relationships of trust

on issues in areas such as the environment, safety, andaction plan and KPIs for each of the 17 material issues,

In the 1990s, the Group began developing andwith stakeholders.” These elements are the driving

health, ESG management is becoming increasingly important

including those in the areas of environmental (E) andcommercializing oral and emergency contraceptives.

force behind the four visions and seven strategies offor the Group, which is engaged in pharmaceutical andgovernance (G). We will continue to focus on social

However, the size of the Japanese market in this field

the medium-term management plan.

healthcare-related businesses. As the world undergoes

issues that ASKA is in a unique position to tackle, such

was smaller than that of Europe and the United States,

major changes due to the COVID-19 pandemic andas by expanding our product lineup for different lifeand establishing a viable business was considered

open innovation with other companies in the same andother factors, we are strongly aware of the need to evolvestages for women and promoting animal welfare. By

difficult. There were many internal discussions about

different industries, while leveraging the expertise ofas we consider what we need to do to fulfill our social

setting KPIs clearly in this way, employees of Group

whether the Group should continue or discontinue its

our core Group company, ASKA Pharmaceutical, in the

responsibilities.

companies can easily recognize the direction that the

R&D. We came to the conclusion that women’s active

three priority areas of internal medicine, Ob/Gyn, andWe have identified material issues (the most importantparticipation is essential to Japan’s future growth, thaturology. Recently, in September 2021 the Company

issues) based on the Group’s business characteristics, andthe focus on women’s health will continue to increase,entered into a license agreement with Takeda

clarified the issues we need to contribute to. In particular,

In June 2022, the Company appointed its first

and that the basic technologies and know-how we have

Pharmaceutical Company Limited for the Relugolix

we believe that in terms of social (S), “contribution to

woman to the Board of Directors. She possesses very

cultivated will eventually but surely contribute to society.

Combination Tablet. In October 2021, we entered into

women’s health” and “contribution to animal health” aredeep knowledge and expertise. We expect she will

At that time, there were concerns about focusing ona business collaboration agreement with Toray Industries,

material issues in which the Group can demonstrate its

contribute to invigorating the Board of Directors andareas of low public interest. However, as opportunities

Inc. to develop and commercialize an adhesion barrier,strengths. These material issues are in line with the Group’s

strengthening its governance while having a positive

for women to play an active role in society expanded,for use in gastroenterology and Ob/Gyn surgicalbusiness, creating a virtuous cycle among employees in

impact on other members of the Board of Directors.

stakeholders’ perception of this business became “thisprocedures. We intend to continue such business alliances.

which they try new things while focusing on areas thatbusiness is indispensable to the world” and “it has a

We believe that the promotion of open innovation that

contribute to, and are needed by, society.

high degree of social contribution.”

encompasses everything from prevention, testing, andLooking back, I believe that our strengths lie in the

At present, Group-wide we are actively promoting

Company is aiming to take and the issues that each ofthem should address.

diagnostics to treatment and prognosis is enabling us

following areas: “drug discovery platforms in specialized

to steadily approach our ideal for 2025 as a total

fields and production technologies that have been

healthcare company with a strong foundation as acultivated over the last 100 years,” “our high-quality

specialty pharma company.

Happiness That Leads to Social Contribution

Modality axis

Medical device

Aiming to Be an Organization Capable of Creating Job

Regional axis

Prevention
Overseas
Testing and
Diagnostics

Due to changes in the social environment, such as thenot only in pharmaceuticals but also in a variety ofincreasing number of women playing active roles inother fields, and by incorporating the thoughts andvarious industries and deeper understanding of theideas of people from diverse cultures.

concept of animal welfare, we believe it is becoming

As a pioneer, we invested in R&D activities in areaseasier for the general public to see how our businessthat people were once not particularly interested in.

contributes to society. I am very pleased that the generalThrough trial and error, we have developed our businesspublic is gaining a deeper understanding of the activities

into one that can solve problems and generate

and initiatives of each Group company, as well as oursignificant profits. In addition, we believe that we havebusiness results. We believe that each and every one of

become an organization capable of creating job

our employees deeply understands that our pharmaceuticalhappiness that leads to social contribution. We arebusiness, which has been built over the last 100 years,

confident that by successfully laying the groundwork by

and other areas of our business, which will grow further,2025 that we will be able to take the next step.

are indispensable for achieving a more affluent society.

Treatment

Prognosis
Medical life cycle axis

Going forward, we will not only pursue profits but

Our goal is to realize what we can do to contribute toalso enhance our quality as a corporation, and thesociety as a total healthcare company. To this end, it isGroup will continue to make concerted efforts to takeessential that companies and employees take on new

on the challenge of becoming a total healthcare company.

challenges and continue to grow together. In the future,

We look forward to your continued understanding

we hope that a positive trend emerges within the Groupand support as we work to meet your expectations forwhereby each person uses his or her imagination to

the future of the Group.

explore new business areas, building on their knowledge

Broad support for health

8

ASKA HD REPORT 2022

ASKA HD REPORT 2022

9

Value Creation Story

Material Issues

Company-wide Action Plan and KPIs for Material Issues
ESG

No.
1

Promotion of ESG Management

Atsushi Maruo

In April 2021, ASKA Pharmaceutical Holdings established the
ESG Committee to oversee the Group's initiatives regarding
our contribution to building a sustainable society. Based on
our conviction that deepening our ESG efforts is essential toincreasing corporate value, the Group is focusing on nonfinancial issues in addition to the financial targets outlined in
Medium-Term Management Plan 2025. Based on the issues
identified through discussions in each Group company, 17
material issues (the most important issues) were identified,bearing in mind their relevance to the business andstakeholders’ expectations for the Group.
In FY2022, the Group will actively promote ESG
management that balances contributions to theestablishment of a sustainable society with the Group’s
growth, in accordance with the Company-wide action plan
formulated based on the material issues.
To this end, it is essential that each and every employee
works to resolve non-financial issues related to environmental (E),social (S), and governance (G) based on a good understandingof the basic concepts described below, and that they takethe initiative to achieve the SDGs* that lie ahead.
First, in environmental efforts we have established a basic
policy to protect the environment and continuously reduce
the environmental impact of all our business activities. We
will prioritize measures for our factory, which consumes large
amounts of energy. As for our response to climate change,
since June 2022 we have been disclosing information such as
metrics and targets in line with the Task Force on Climaterelated Financial Disclosures (TCFD) recommendations.

Material Issues

Company-wide Action Plan

Environmental protection andReduction ofcontinuous reduction ofenvironmental impact
environmental impact

E

Senior Managing Member of the Boardof Directors, Representative Director
ASKA Pharmaceutical Holdings

2

3

Environmental
management

Promotion of environmental
management

Human resource
development

Development of human resources torealize growth strategies

KPIs
Reduction of CO2 emissions: Reduction of 46% from FY2013 (FY2030)
Reduction of total waste
Improvement in recycling rates
Promotion of environmental measures through Company-wide
environmental management meetings
Environmentally conscious business operations
Promotion of job rotation and in-house recruitment system
Support for employee growth through in-house training system
Optimization of working hours: Promotion of use of annual paid leave
as planned, guidance for promotion of use of annual leave, provisionof hourly annual leave, etc.

4

Achievement ofwork-life balance

Achievement of work-life balance
while respecting the health anddiversity of employees

Efforts for measures to support development of the next generation:
Maternity leave (utilization rate 100%), childcare leave for male
employees (utilization rate 100%)
Efforts for health management

In our social efforts, we sincerely address issues such as
human resource development, ensuring product quality andsafety, health management, building a stable supply chain,and promoting diversity, and aim to become a company thatis rewarding to work for and trusted by society.
In our efforts for governance, as a company engaged in
the manufacture and sales of pharmaceutical products,
which are directly linked to saving lives, we will comply with
relevant laws and regulations, and build a transparent andfair governance system with the aim of continuously
increasing corporate and shareholder value.
With regard to contribution to women’s health andcontribution to animal health, which are two of the
distinctive material issues of ASKA Pharmaceutical Holdings,
the Company will continue to play a leading role. We willleverage our accumulated expertise and knowledge andcontribute to society by building a society in which womencan continue to prosper and improving animal welfare.

Promotion of various working styles: telecommuting, telework,
flextime, short-time work, etc.

5

Employeeengagement

Promotion of creation of anenvironment that responds tounderstanding of organization,
sympathy, and motivation to takeaction6Creation of
innovative products

Expansion of pipeline through open
innovation

Expanding accessto healthcare

Contributions to specialties bytaking advantage of our own
strengths

7

Conduct of regular stress checks and surveys for engagement

Promotion of in-house research themes
Reinforcement of alliance activities
Stable supply and improvement of information in specialty areas (Ob/Gyn, thyroid gland)
Dissemination of knowledge through activities to raise awareness of
diseases
Early detection of disease through testing
Expansion of product lineup for each life stage of women, i.e., puberty,
sexual maturity, menopause, and old age

S

8Contribution to
women’s health

Total support for women’s healthContributions to female healthcare through provision of products
Activities to raise awareness of women’s health and diseases:
Efforts in Health Lab Mint+ for Women’s health9

Contribution toanimal healthSupply chain

10 management

Contribution to creation of a society
where people and animals can coexist
Stable procurement and supply

Promotion of animal welfare
Development of products useful for maintaining health of companion animals
Reinforcement of supply chain management
Strengthening cooperation with distributors
Reinforcement of the reliability assurance structure through continuous
development of regulations and various operating manuals

Stakeholders’ interests

Most
important

Important

Ensuring product* Based on the role that the Group should play, the Group has set the following
nine priority targets from among the 17 Sustainable Development Goals(SDGs), and is working to achieve them.

Mapping of Material Issues

11 quality and safety

Securing proper GMP audit

Compliance with GVP and guidelines for activities for provision of sales information

Material issues

12

Promotion of properuse of products

Provision of information onproper use

Proactive use of materials for proper use and reinforcement of producteducation for medical representatives, etc.
Prompt provision of latest information through website

Social contribution

Importance to ASKA Pharmaceutical Holdings

13 activities

Most
importantContribution to the health of people
and animals and society in the
future as corporate citizen

Creation of value utilizing diverse
14 Promotion of diversity human resources

STEP 1

STEP 2

STEP 3

Representatives from all divisions
summarized the opinions of their members
and proposed a total of 206 issues.

Consolidated into 36 important issues
in accordance with environmental,social, and governance criteria.

After interviewing external experts, the ESG Committee identified
17 material issues (the most important issues), taking into accountvarious guidelines and norms such as the GRI Standards, SDGs,
Medium-Term Management Plan 2025, and stakeholders’ interests.

G

15

Corporate
governance

16

Secure compliancewith laws andregulations,enforcement ofcompliance

Thorough maintenance ofcompliance and fostering anorganizational climate thatemphasizes reliability

Long-term corporate
value enhancement

Gaining appropriate appreciationand trust from stakeholders

17

ASKA HD REPORT 2022

Proper conduct of trials (GCP compliance)
Adequate implementation of GQP, GVP, and RMP (effective operation of the structureof three officers within Marketing Authorization Holder of Medical Products)

Material Issue Identification Process

10

Ensuring product quality and safety
for end users

Establishment of corporate systemfor continuous growth

Donations for social contributions to solve social issues
Participation in open lectures for citizens
Efforts for sexual education for the younger generation
Promotion of women’s advancement in active roles: Percentage of female
managers (FY2025 target: 15%), Percentage of female medical representatives
Promotion of active roles for diverse human resources
Fostering corporate culture and climate that respect healthy business ethics
Ensuring real equality of shareholders
Compliance system mainly promoted by Group Compliance Promotion
Committee
Implementation of measures to prevent serious incidents
Constructive dialogue with stakeholders
Appropriate disclosure and explanation of management strategy,
performance, financial conditions, capital policy, etc.

ASKA HD REPORT 2022

11

Value Creation Story

Value Creation Process
ASKA Pharmaceutical Holdings aims to become a total healthcare company with a strong
foundation as a specialty pharma company through its pharmaceutical business, animal healthbusiness, and hormone testing business, using a value chain (research, development, production andsales) imbued with ASKA’s DNA, the source of its growth for over 100 years. Through the value creation
process, we will contribute to the resolution of social issues in the field of healthcare.

Corporate Philosophy: Contribute toward the improvement of people’s health and progress in society through the development of innovative products

Value creation cycle

Social Issues We
Want to Help Resolve

Stable supply ofeffective and safe
pharmaceuticals

Contributing to
women’sadvancement insociety

Addressing unmet
medical needs

DNA

Business

Value provision

Healthcare fields from prevention, testing and diagnostics to treatment and prognosis

Stable supply ofhigh-quality
pharmaceuticals

VisionResearch Development

Pharmaceuticalbusiness
Production

Sales

Animal healthbusiness
Pages 26-27

Internal medicine
Ob/GynUrology

Improving women’squality of life andpromoting theiradvancement

Human Resources

Medical devices
etc.

Pages 14-15

New initiatives andvalue provision for
total healthcare

Become a Total Healthcare
Company with a Strong
Foundation as a Specialty

Pages 21-25(Training anddeployment)

Promotion of drug
discovery throughopen innovation

Hormone testing
business

Animal healthPharma Company

Coexistence between
people and animals

Pages 28-29

Material Issues

Improving healthliteracy

Extending healthy
lifespans

17 material
issuesPages 10-11

ASKA Pharmaceutical Holdings’ Medium-Term Management Plan 2025
Specialty

Ability
to create

Socialcontribution

Pages 18-19

Strengthening internal controls and thorough compliance/ ESG management
12

ASKA HD REPORT 2022

Preventative medicine/
Improvement of
pre-symptomaticconditions

Pages 10-11, 30-45

ASKA HD REPORT 2022

13

Value Creation Story

ASKA Pharmaceutical Holdings’ DNA
As a pioneer in hormone preparations, we pursue our business with a sense of mission to deliver
valuable pharmaceuticals and services, as long as there are medical needs to be met. This is ASKA’s

Research

Solid drug discovery know-how, centered on
hormone preparations

DNA, which has remained unchanged since our founding. This DNA, handed down from the past to
the future, informs our value chain (research, development, production, sales, etc.) and is the driving
force behind taking on the challenge of realizing total healthcare. All Group employees continue tocarry this DNA in their hearts as a personal strength, and aim to create value that is unique to ASKA.

Research

Human
Resources Development
Human resources who
inherit ASKA’s DNA

Pharmaceuticals have an important mission to play in society, andwe aim to help fulfill that mission by making sure that each andevery one of our employees keeps this mission in mind.
ASKA’s DNA is inherited by human resources who collect

The origins of our business are in hormone preparations, and we have accumulated
technology, knowledge and achievements in hormone research over the past 100
years. Now, the ASKA Pharmaceutical Shonan Research Center is accelerating
open innovation through industry-academia-government collaboration, including
joint research with venture companies and universities to hasten drug discovery.
In FY2021, some of our results included achieving milestones in joint researchwith external drug discovery companies. In addition, we are making progress inthe transfer of technologies within the Group, such as applications for veterinary
pharmaceuticals and hormone testing technologies that were derived fromprescription hormone preparations.

Development

Research Base

FY2021 R&D
Expenses¥3,598million

ASKA Pharmaceutical
Shonan ResearchCenterDevelopment technology to rapidly meet
medical needs

In the area of prescription pharmaceuticals, we focus on contributing to total
healthcare through the use of hormone preparations rooted in the Group's
history, centered on the three priority areas of internal medicine, Ob/Gyn, andurology. We are committed to developing drugs that improve the health andquality of the lives of patients, advancing clinical development, and striving todeliver these drugs as quickly as possible. By revitalizing our in-house drug
discovery and alliance activities, we made progress in five products in FY2021,
including the addition of new indications and moving to the next stage ofdevelopment. We have also succeeded in developing a hair hormone levelmeasurement kit, using our knowledge and know-how in hormone preparations.

R&D Pipeline

7 products
Note: As of August 2022

information to ensure that they are able to respond to the rapidlychanging business environment,

Production

face difficult issues with sincerity,

Quality and safety of products that can beused with peace of mind

and continue to take onchallenges.

Sales

Production

In the production of pharmaceuticals, quality and safety control in compliancewith various laws and ordinances is essential, along with the ability to provide astable supply. As the reliability of pharmaceuticals has been shaken by a series of
production problems in recent years, we believe it is important to maintain acorporate stance of compliance and to foster a Quality Culture. The Group is
continuing to reaffirm its operations throughout the supply chain in order to fulfill
its responsibility of ensuring quality and a stable supply.

Sales
From prevention to testing, diagnosis, treatment, and prognosis,
broadly contributing to people’s health and quality of life,
across the entire healthcare field

14

ASKA HD REPORT 2022

Production Base

ASKA Pharmaceutical
Iwaki Factory

Promoting proper use with expertise and astrong sense of mission

Since pharmaceuticals are life-related products that directly affect the lives andhealth of people and animals, pharmaceutical companies need to provide andcollect information on efficacy, safety and other matters in an accurate andprompt manner. The Group promotes the proper use of pharmaceuticals byconducting a variety of activities to provide information that is tailored to theneeds of medical professionals and farmers, through visits to facilities, online
lectures and e-detailing.

ASKA
Pharmaceutical

20

domestic sales
bases

ASKA
Animal Health5

domestic sales
bases

ASKA HD REPORT 2022

15

Explanation of Strategy

Financial and Capital Strategy

Basic Policy of Financial and Capital Strategy

Investment for Realizing Growth Strategies

ASKA Pharmaceutical Holdings has set a management vision

Medium-Term Management Plan 2025, net sales totaled

In order to realize the growth strategies of Medium-Termrecognize the importance of ROE as an indicator thatfor FY2025 of becoming a total healthcare company with a¥56,607 million due to growth of new drugs such as

Management Plan 2025, we will identify changes in themeasures whether a company is generating returns thatstrong foundation as a specialty pharma company. In

RELUMINA (relugolix) in the pharmaceutical business,social environment and prioritize appropriate capital

exceed capital market expectations, in other words, it is a

response to changes in the external environment, in 2021 weincreased demand for generic drugs, and growth of animal

investment, R&D, digital, and investment in humanfinancial indicator that is considered important by investors.

formulated Medium-Term Management Plan 2025 (ending infeed additives in the animal health business. We achieved aresources, as we believe these investments are indispensable

Although we exceeded our target of 8% in FY2021, we also

FY2025), based on the three foundations of “specialty,”

favorable start to the medium-term management planfor further growth. In the domestic pharmaceutical business,believe it is important to continue to build a business“ability to create,” and “social contribution” that we havedespite the difficulties of the COVID-19 pandemic. Grosswe will focus on capital investment, particularly at the ASKA

portfolio that is capable of achieving stable returns into thecultivated over the 100 years since our founding in 1920.

profit increased by ¥969 million, mainly due to higher sales.

Pharmaceutical Iwaki Factory, which supports stable supply.

future. To achieve this goal, we will improve business

Based on these foundations, we have established a financial

On the other hand, selling, general and administrative

In R&D, ASKA Pharmaceutical will promote drug discovery

efficiency while generating cash flow by continuing toand capital strategy with the goal of realizing four visions: (1)expenses decreased by ¥217 million from the previous year

research and clinical development with a focus on the three

regularly conduct business feasibility assessments andto expand business scope centered on pharmaceuticalto ¥21,556 million, mainly due to a decrease in R&Dpriority areas of internal medicine, Ob/Gyn, and urology, andimplementing our structural reforms and strategy review.

products, (2) improve business operations by promoting open

expenses, despite an increase in operating expenses. As awill also aggressively pursue out-licensing and in-licensing

innovation, (3) become the top domestic company in our

result, operating profit increased to ¥4,795 million. In

activities and business alliance strategies. Group companies

specialty areas for pharmaceutical products, and (4) continue

FY2022, the second year of the medium-term management

will create new businesses through open collaborative andto be a company that is trusted by society. We will strengthenplan, we will continue to work toward achieving our goals

creative relationships both in Japan and overseas, and their

our financial base to support sustainable growth throughthrough growth of RELUMINA and the introduction of new

promotion of shorter development lead times from processes

operational efficiency and cost reductions, while focusing on

products in the obstetrics and gynecology (Ob/Gyn) field. Inthat take advantage of digital technologies and process

priority areas and developing the Group’s strengths.

addition, we will consider ways to optimize our business

innovation for a more efficient supply chain will lead to aportfolio in anticipation of future changes in the businessmore advanced management base. To successfully implement

PMS/PMDD drugs under development at
Renascience Inc.

pharmaceutical products, animal health, and hormone

environment, and promote the building and strengthening ofthese innovations, we consider it essential that we secure and(Option agreement)

testing businesses. In FY2021, the first year of operations as

the financial base necessary to promote not only our existingdevelop excellent human resources, and that we continue to

ASKA Pharmaceutical Holdings Co., Ltd. and the first year of

businesses but also new business areas and global expansion.

enhance our education and training programs and utilize

The Group strives to secure stable earnings centered on its

R&D Status (As of August 2022)

Development code (Generic name) / Indication
LF111 (drospirenone)

Profitability

Net sales (Millions of yen)

56,60757,50070,000Operating profit (Millions of yen)

4,795

4,200

5,600

8.5

7.3

8.0

Profit attributable to owners of parent (Millions of yen)

4,290

3,300

—

Earnings per share (EPS) (Yen)

151.22116.32—

Operating profit margin (%)

8.8

—

8.0

D/E ratio (Interest-bearing debt ratio) (%)

0.29

—

—

Equity ratio (%)

58.7

—

—

Capital efficiency Profit attributable to owners of parent/Equity (ROE) (%)
Financialsoundness

FY2022 Forecast FY2025 Targets

Phase III

(Option agreement)

Phase II
(Investigator-initiated)
Phase I / II
(Korea)Cervical dysplasia under development at
KinoPharma, Inc.

Preparing forclinical trial

TRM-270 (adhesion barrier)(Gastroenterology and Ob/Gyn)

Furthermore, we are actively considering business alliances

FY2021 Actual

Phase

Contraception

outside human resources.

Financial and Capital Strategy KPIs

See page 23 for details.

L-105 (rifaximin)

in order to speed up our future business development. In

Hepatic encephalopathy (pediatrics)

particular, we will further strengthen the relationships we

AKP-009 (ludaterone acetate)

have established up until now, including technical cooperation

Benign prostatic hyperplasia

and human interaction with a view to further business

Relugolix Combination Tablet

development in the Asian region.

Uterine fibroids

In terms of our efforts to improve capital efficiency, we

Phase II / III
Phase IIa*
Preparingdevelopment* Additional Phase I trial at a higher dosage ended in April 2022.

Policy for Returns to Shareholders
The Group’s basic policy is to maintain stable dividends while （億円）

Strengthening the Financial Base and Financial Soundness
Consolidated Balance Sheetof March 31, 2022, total assets were ¥83,297 million, while(As of the end of FY2021)

reducing interest-bearing debt, we will examine each investment
project on a case-by-case basis and appropriately control
costs to maintain our financial base and improve capitalefficiency.

Current assets

16

ASKA HD REPORT 2022

49,557 (+9,625)
Property, plant and equipment
10,936 (–1,739)
Intangible assets
6,183 (–5,710)

long-term business development. Internal reserves are used30

growth, including investment in R&D and production(Millions of yen)

Current liabilities
16,011 (–725)

net assets totaled ¥48,892 million. The equity ratio was 58.7%.
We view ensuring the stability of our financial base as an

35

to strengthen the corporate structure for future sustainable

Regarding the consolidated financial position of the Group as

important management issue for the Group. In addition tocomprehensively taking into account internal reserves for

Investments and other assets
16,620 (–1,461)

Non-current liabilities
18,393 (–2,941)

facilities. At the same time, we recognize that one of the20

most important management issues is to return profits to15

shareholders in an appropriate manner in line with earnings.

10

Based on this recognition, we decided to pay an annual

5

dividend of ¥15 per share (interim dividend: ¥7 per share,
year-end dividend: ¥8 per share) for the current fiscal year,

Net assets
48,892 (+4,381)

25

taking into account recent business performance. We willcontinue to meet the expectations of our shareholders by
improving capital efficiency and strengthening our financial

0

Dividends per Share
Includes ¥3 dividend forcommemoration of 100th anniversary
¥17
74.0%

188 億
¥16

¥15

¥14

Year-end
¥8

14.6%
2019
Interim2020
Year-end

Payout ratio

Year-end¥8

Interim*¥7

Interim¥8

2021

2022 (FY)(forecast)

5.3%

13.8%

* The interim dividend for FY2021 is excluded from the calculation of thepayout ratio as it is derived from other capital surplus.

base to realize sustainable enhancement of corporate value.

ASKA HD REPORT 2022

17

Explanation of Strategy

ASKA Pharmaceutical Holdings’ Medium-Term Management Plan 2025

In conjunction with the inauguration of ASKA Pharmaceutical Holdings, we formulated ASKA
Pharmaceutical Holdings’ Medium-Term Management Plan 2025 ending in FY2025. Aiming to become aSeven Strategies and Initiatives

total healthcare company with a strong foundation as a specialty pharma company, we set out four visions
and are promoting seven strategies based on “specialty,” “ability to create,” and “social contribution.”

ASKA Pharmaceutical Holdings’ Medium-Term
Management Plan 2025
Four Visions

1
2
3
4

7
Strategies

Expand business scope centered on
pharmaceutical products

Net sales: ¥70 billion
Operating profit margin: 8%* Low-dose estrogen/progestin combination

ROE: 8%

1. Enhance Corporate Value byStrengthening Initiatives in theSpecialty Areas¥70 billion(Billions of yen)

70
60

4.8

50

See pages 21-23, 25 for details.

18.8 27%

9%

Initiatives[Women’s healthcare]• Expansion of product lineup by life stage– 
Increase presence in the Ob/Gyn field with the additional indication of endometriosis
for RELUMINA– 
With the acquisition of manufacturing and marketing approval (the only company) for
DroEthi, we now have a lineup (LEP* formulations) of three products for treating
dysmenorrhea

Targeted Net Sales

Improve business operations by promoting
open innovation (from R&D to production
and sales)

Seven Strategies

 esponding to expanding medical needs due to introduction of insurance coverage ofR
fertility treatment– 
Continued co-promotion of Jemina, Riona, and Rapid SP Chlamydia• 
Enhancement of information provision activities through Health Lab Mint+ for Women’s
health–[Thyroid area]• 
Promotion of stable supply of THYRADIN and disease awareness activities

40

Become the top domestic company in our
specialty areas for pharmaceutical products

30

50.3 91%20[Unmet medical needs]• 
RIFXIMA is being promoted to establish its status as a standard treatment for hepatic
encephalopathy through the listing in the Clinical Practice Guidelines for Cirrhosis• Promote additional pediatric indication as a hepatic encephalopathy agent

51.3 73%

10

Continue to be a company that is trusted bysociety0

2020
Prescription pharmaceutical business

2025

(FY)

Animal health, testing, healthcare, and overseas businesses

The Foundation for Formulating the Medium-Term Management Plan

Specialty

Ability to create

2. Continuously Create New
Drugs through Advanced
Drug Discovery
See pages 21-23 for details.

Social contribution

 cquired development and marketing rights for Relugolix Combination Tablet fromA
Takeda Pharmaceutical Company Limited– Offering a new option in uterine fibroid agents• Concluded joint business agreement with Toray Industries, Inc. for adhesion barrier for
use in surgical procedures (gastroenterology and Ob/Gyn fields)– Aiming to improve treatment prognosis for patients undergoing surgery• 
Achieved a milestone in joint research with RaQualia Pharma Inc. and progressed to thenext stage•

S tarted construction of a new factory for Hataphar (Vietnam) (scheduled to start
operation in FY2023)• 
Dispatched personnel to provide technical support to Hataphar, and began accepting
trainees to learn production technology at ASKA Pharmaceutical Iwaki Factory• 
Submitted an application to the Chinese authorities for approval of ALTAT licensed out
to Harbin Pharmaceutical Group Co., Ltd. (China)•

FY2020 Actual

FY2021 Actual

3. Overseas Operations

FY2025 Targets

See page 24 for details.

Net sales (Millions of yen)

55,18156,60770,000Operating profit margin (%)

6.5

8.5

8.0

ROE (%)

6.3

8.8

8.0

4. Provide New Value to Realize“Total Healthcare”
See pages 26-29 for details.

Review of FY2021
FY2021, the first year of ASKA Pharmaceutical Holdings’

development focusing on the Company’s priority areas ofMedium-Term Management Plan 2025, got off to a goodinternal medicine, Ob/Gyn, and urology, while actively

start as a year for solidifying the foundation of the holding

pursuing out-licensing and in-licensing opportunities andcompany structure.

business alliance strategies.

In the pharmaceutical business, while affected by the

In April 2021, we established the ESG Committee andoff-year National Health Insurance (NHI) drug price revisions

identified 17 material issues for contributing to building afirst introduced in April 2021 as part of measures to control

sustainable society. We determined a Company-wide action

medical expenditures, sales were generally strong, mainlyplan and 42 KPIs for the material issues identified, and are

due to growth in mainstay Ob/Gyn products. In other

implementing initiatives to achieve the targets. We willbusinesses, sales in the animal health business were strong,

continue to fulfill our corporate social responsibility andcentering on pharmaceuticals for livestock and companion

contribute to building a sustainable society, aiming toanimals and animal feed additives.

become a total healthcare company with a strong foundation

In R&D, we promoted drug discovery research and clinical

as a specialty pharma company.

5. Improve Operational Efficiency,
Cut Costs, and Reinforce Our
Financial BaseSee pages 16-17 for details.

6. Foster an Organizational Culture
That Emphasizes thoroughCompliance and Accountability

ASKA HD REPORT 2022

[Hormone testing business]• 
Launched a kit for measuring hormone levels in hair• Formed a business alliance with an external testing company• 
Started marketing activities for hormone mass spectrometry• 
Strengthened sales activities in collaboration with ASKA Pharmaceutical verall selling, general and administrative expenses were lower compared to FY2020
O
due to efforts to reduce cost of sales and other factors, despite an increase in operating
expenses with the resumption of sales activities following the voluntary suspension ofsales activities due to the COVID-19 pandemic.
• 
Implemented robotic process automation (RPA) to improve operational efficiency•••

Ongoing supply chain inspections to maintain stable supply
Ongoing training on quality and safety management

See pages 39-45 for details.

7. Develop Human Resources to
Realize Growth Strategies
See pages 33-36 for details.

18[Animal health business]• 
Launched three new mixed feed products• 
Acceleration of market penetration of THYLOBLOCK• 
Promotion of online sales activities and expansion of information provision tools••

Introduced a new human resource system to maximize human capital
Introduced learning tools to support autonomous growth

ASKA HD REPORT 2022

19

Explanation of Strategy

Business Activities

Business Conditions

We believe that the value chain is a strong reflection of the quality of our DNA, which has remained
unchanged for 100 years since our founding. It is the source of the value that we provide as ASKA

ASKA PharmaceuticalPharmaceutical Holdings. To realize our corporate philosophy we continue to provide valuable products
and services through our various business activities.

ASKA PharmaceuticalPages 21-25

Message from the President

Contributing to the Improvement of People’s Health and Quality of Life as a Pioneer in
Hormone Preparations

ASKA Pharmaceutical is
Embarking on a New Stage
Founded in 1920, ASKA Pharmaceutical began its business with the

ASKA Pharmaceutical Co., Ltd., our main subsidiary,
conducts business in three priority areas with a focus onpharmaceuticals, particularly hormone preparations. By
staying attuned to women’s life stages and changing
lifestyles, we remain a leading company in the Ob/Gynfield with a broad lineup of products including uterine
fibroids and endometriosis agents. They support
women’s health as they lead active, healthy daily lives.

development of hormone preparations from animal organs. Today, we
focus on the three priority areas of internal medicine, Ob/Gyn, andInternal
Medicine(Gastroenterology
and Thyroid)

Ob/GynUrologyurology, and are developing our business with a focus on new drugs.

Sohta Yamaguchi

In the Ob/Gyn field, in particular, we support women’s health with a

President, Member of the Boardof Directors, Representative Director

wide range of products to meet needs in life stages from puberty to
old age. Recently, as more women have entered the workforce,
concerns related to women’s health and illnesses have become morediverse and apparent. As a leading company that responds to various
needs in women’s healthcare, ASKA Pharmaceutical is committed toproviding innovative new drugs by promoting open innovation
through collaboration with domestic and overseas companies. In
addition to supplying pharmaceuticals, we also strive to disseminate

ASKA Animal Healthinformation necessary for maintaining health and confronting illness,
Pages 26-27

thereby providing opportunities for women to make choices for ahealthy life in a multifaceted manner.
Based on management resources we have inherited from our uniqueContributing to the Creation of a Society Where People and Animals Can Coexist
ASKA Animal Health Co., Ltd. conducts businesses inthe two areas of veterinary pharmaceuticals and animal
feed additives. By maintaining or improving the
productivity of the livestock and fishery products that
underpin Japan’s food self-sufficiency, and by conducting
research, development, manufacturing, import, andsales of veterinary pharmaceuticals and other productsthat are useful for maintaining the health of dogs, cats,
and other companion animals, we contribute to theoperations of farmers and veterinary professionals.

DNA, we intend to contribute to society and people by transforming
ourselves into a total healthcare company that goes beyond
pharmaceuticals, responding to a wide range of social needs that are
diversifying with the changing times and environment.

LivestockandFisheries

Companion
AnimalHealthMain Products• Internal Medicine
Hepatic encephalopathy agent
RIFXIMA(rifaximin)• Urology
Antihypertensive agent
CANDESARTAN “ASKA”(candesartan)

Hypothyroidism agent
THYRADIN(levothyroxine)

Endometriosis, uterine fibroids, andprostate cancer agent
LEUPRORELIN “ASKA”(leuprorelin)

ASKA Pharma Medical

Pages 28-29

Contributing to a Healthy Society through Cutting-Edge Measurement Technologies
ASKA Pharma Medical Co., Ltd. leverages its advanced
technologies and extensive know-how to contribute toa wide range of fields including basic research, clinicalresearch, and diagnostics, centered on measurement ofsteroid hormones and other bioactive substances(testing business).

20

ASKA HD REPORT 2022

• Ob/Gyn
Uterine fibroids andendometriosis agent
RELUMINA

Microdeterminationof Endogenous
HormonesHair
Testing(relugolix)

Dysmenorrhea agent
FREWELL “ASKA”(norethisterone/ethinylestradiol)

Emergency contraceptive
NORLEVO(levonorgestrel)

Benign prostatic hyperplasia andprostate cancer agent
PROSTAL(chlormadinone)

ASKA HD REPORT 2022

21

Explanation of Strategy

Business Conditions

Business Overview and Performance
Despite the impact of measures to control medical
expenditures such as the off-year National Health Insurance(NHI) drug price revisions first enacted in April 2021, net
sales of the pharmaceutical business increased year on year
to ¥50,791 million due to solid performance mainly fromgrowth in Ob/Gyn products, a priority area for the Company.
By product, in the Ob/Gyn field sales of core products suchas RELUMINA (relugolix), a uterine fibroids and endometriosis
agent, and FREWELL (norethisterone/ethinylestradiol), a
dysmenorrhea agent, grew substantially to ¥7,334 millionand ¥3,463 million, respectively. In the field of internal
medicine, sales of THYRADIN (levothyroxine), a hypothyroidism
agent, and RIFXIMA (rifaximin), a hepatic encephalopathy
agent, increased to ¥7,499 million and ¥4,854 million,
respectively. Due to an increase in demand for alternatives
spurred by supply issues with other companies’ products,
sales of authorized generic CANDESARTAN (including
compound agents), an antihypertensive agent, increased to¥12,394 million. In the urology field, sales of LEUPRORELIN,a uterine fibroids, endometriosis, and prostate cancer agent,increased to ¥5,183 million. As a specialty pharma company
focusing on the three areas of internal medicine, Ob/Gyn, andurology, we will continue to actively expand our development
pipeline by further promoting drug discovery and alliances.

Net Sales in the Pharmaceutical Business
Internal medicine(Millions of yen)

60,00050,00044,12740,00047,851

Ob/Gyn50,314

Urology

50,791
9.4%

41,75730.9%

30,00020,00059.7%

10,000
0

2017

2018

2019

2020

2021

(FY)

Major Initiatives
1

Specialty Areas

In our specialty areas, we are concentrating our efforts on
the Ob/Gyn field, a primary focus in women’s healthcare. The
social environment facing women is changing rapidly, andsolving women-specific health problems is recognized as an
issue that needs to be addressed by society. Against thisbackdrop, the Ob/Gyn market is expected to expand from¥73.9 billion in 2021 to ¥82.6 billion by 2025*¹ due to thestart of insurance coverage for fertility treatment, theexpansion of telemedicine, and improvement in healthliteracy, including the spread of menstruation-related
information. We have been involved in the Ob/Gyn field formany years, and we see the expansion of this market as agreat opportunity for us to make a greater contribution tosociety. Our mainstay product RELUMINA, a uterine fibroids
and endometriosis agent, is an oral GnRH antagonist, andthe switch from the standard injectable formulation of

Ob/Gyn Products by Life Stage
Early
childhood

Puberty

Sexual maturity

Oral contraception

Drospirenone (LF111)

Iron deficiency anemia

Riona (Co-promotion*)Hypozincemia

NOBELZIN (Co-promotion*)

STD/Infection

Cervical dysplasia drugs

ANGE

NORLEVO

Old age

Menopause

HOLIN

Rapid SP Chlamydia (Co-promotion*)* Mainly in the Ob/Gyn field

RELUMINALEUPRORELIN

Jemina (Co-promotion)

DroEthiPMS/PMDD drugs

PLANOVAR

In the field of internal medicine, we are continuing topromote the penetration of RIFXIMA, a hepatic
encephalopathy agent. Hepatic encephalopathy is a rare
disorder with less than 50,000 patients, and we are working
to address this unmet medical need through means including
disseminating guideline information. In addition, THYRADIN,a hypothyroidism agent, celebrated its 100th anniversary in
2022. As a leading company in the thyroid field, we willcontinue to contribute to thyroid treatment through various
educational activities.
See page 25 for details.
*¹ Source: Fuji Keizai Co., Ltd., 2018-2019 Ethical Drugs Databook No. 4*² Low-dose estrogen/progestin combination

Development Pipeline

In the Ob/Gyn field, a Phase III clinical trial of LF111(drospirenone), an oral contraceptive licensed in from Insud
Pharma, S.L. of Spain, has started. In the urology field,
clinical trials are underway for AKP-009 (ludaterone acetate),
a drug discovered and being developed in-house incollaboration with Kyorin Pharmaceutical Co., Ltd., forbenign prostatic hyperplasia.

In drug discovery and alliance activities, we have a lineup
of products that are expected to grow in the future througha license agreement with Takeda Pharmaceutical Company
Limited and a joint enterprise agreement with Toray
Industries, Inc. (see below for details).
We will continue to expand our development pipeline bypromoting drug discovery research activities.

R&D Status (As of August 2022)
Development code (generic name)Indication

LF111 (drospirenone)

Contraception

Phase I

Phase II

Phase III Application Approval(Option agreement)

PMS/PMDD drugs under development at Renascience Inc.

Investigator-initiated Phase II trial Ongoing(Option agreement)

Cervical dysplasia drugs under development at KinoPharma, Inc.

Phase I/II Ongoing in Korea

TRM 270 (adhesion barrier)(Gastroenterology and Ob/Gyn)

L-105 (rifaximin)

Hepatic encephalopathy (pediatrics)

AKP-009 (ludaterone acetate)

Benign prostatic hyperplasia

Relugolix Combination Tablet

Uterine fibroids

Phase III Ongoing

Preparing for clinical trials
Phase II/III Ongoing
Phase IIa Completed*
Preparing development* An additional Phase I trial conducted to confirm maximum efficacy was terminated based on the results of Phase IIa trial.

Now on sale

Imminent miscarriage/premature birth, labor accelerator
Magsent

MAGNESOL

RITODRINEATONIN

Infertility
HMG injection

uFSH injection

LUTEUM

GONATROPIN

Relugolix Combination Tablet—Signed a license agreement with Takeda Pharmaceutical
Company Limited

TRM-270 (adhesion barrier)—Joint enterprise agreement with Toray Industries, Inc.

In September 2021, we entered into a license agreement with
Takeda Pharmaceutical Company Limited for the exclusive rights todevelop and commercialize Relugolix Combination Tablet (a uterine
fibroid agent) in Japan. Uterine fibroids often develop in women in
their 30s and 40s, and it is estimated that approximately 2 million
women are affected by this condition in Japan. Since this product is
a combination tablet, it is expected that it will be able to be used fora long period of time, and as the successor to RELUMINA we expect
it to offer a new uterine fibroid treatment option.

In September 2021, Toray Industries, Inc. and Nanotheta Co., Ltd.
signed a joint enterprise agreement in Japan for TRM-270, an
adhesion barrier under joint development by the two companies.
The market for adhesion barriers in Japan is estimated to be around¥13 to ¥14 billion per year. Through the commercialization of thisproduct, which combines the two features of flexibility andadhesiveness to target organs with its laminated structure, we aim
to contribute to the improvement of treatment prognosis of surgicalpatients in the fields of gastroenterology and Ob/Gyn.

FREWELL (AG)
Adhesion barrier

ASKA HD REPORT 2022

Menopause2

health, as part of our efforts to support women’s health.
See page 38 for details.

Drug Discovery and Alliance Activities

Uterine fibroids, Endometriosis, Dysmenorrhea, Menstrual disorders

22

comparable drugs with similar efficacy is progressing steadily.
In December 2021, it received approval for an additional
indication as an endometriosis agent, providing a new option
for the treatment of the condition. Moreover, in February
2022 we were the sole company to receive manufacturingand marketing approval for a new generic drug, DroEthi(drospirenone/ethinylestradiol) for dysmenorrhea, andlaunched the product in June. This is the Company’s thirdline of dysmenorrhea agents (LEP*² formulations) enabling
us to offer detailed prescription proposals to those sufferingfrom dysmenorrhea.
In addition to contributing to women’s health through theprovision of pharmaceuticals, we also provide a variety of
information through the Health Lab Mint+ for Women’s

SEXOVID

Under development

RELUMINA
Additional indication forendometriosis in December
2021
DroEthi
Launch in June 2022

ASKA HD REPORT 2022

23

Explanation of Strategy

Business Conditions

3

Overseas Business Development

The International Business Division continues to work on
acquiring new markets to become a major pillar of theCompany’s growth. The new plant construction project (incompliance with PIC/S GMP) with our strategic partner
Hataphar, a Vietnamese pharmaceutical company, is progressing
as planned and is on schedule for completion by the end of
FY2023. Furthermore, we are creating a broad collaborative
relationship from manufacturing to sales through humaninteraction, including the dispatch of two employees fromeach of the two companies.
In 2020, we concluded a license agreement in China with
Harbin Pharmaceutical Group Co., Ltd. for our original drug
ALTAT (roxatidine). We have almost completed the preparatory
work, including the application for an import drug license to
the regulatory authorities in China, and are continuing
activities for the launch of sales in 2025.

In addition, as a new initiative, we have started collaboration
with a pharmaceutical company for the purpose of marketing
our original health supplement in Jordan, in the Middle East.
Going forward, we will continue to vigorously expand ourbusiness and product development, with a focus on Asia andthe surrounding regions.

SpecialFeature100th Anniversary of the Birth of THYRADIN

Approach to Related Academic Societies

A Leading Company for Thyroid Treatment
Ceremony to celebrate the construction of the new plant in Vietnam

Sustainability Initiatives Supporting Our Business: Voices of employees working at ASKA Pharmaceutical

Toward the Creation of a Global
Workplace Environment

Enable People Who Wish to Play an
Active Role to Seize Opportunities

Generally, Japanese companies tend to make it difficult
for their employees to take long vacations, but at ASKA
Pharmaceutical we are able to work while maintaining aflexible work-life balance, which is a great comfort forour non-Japanese employees. In order to promote thecreation of an environment in which more employees ofdifferent nationalities can work comfortably, we would
like to create opportunities for active communication in
English in the future.
I would like to encourage the creation of a global
environment by taking the initiative in communicatingwith as many overseas customers as possible, whileemphasizing an awareness of speaking English rather
than the quality of English.

ASKA Pharmaceutical provides opportunities for women
to play an active role in the Company. In addition, theCompany as a whole is adopting a culture that supports
the balance between family and work, including the
introduction of a full-flex time system and encouragementof male employees to take childcare leave.
When I myself took advantage of the short-time work
system after taking childcare leave, I received a variety of
support from everyone in the workplace. Everyone
experiences different life events, such as raising children
or caring for family members. I would like to make theCompany a place where people who wish to play more
active roles in society can seize opportunities to do so on
their own, where the entire Company accepts each
person’s circumstances in anatural way, where everyone
cooperates with each other, andwhere everyone can demonstrate
their strengths.

THYRADIN (levothyroxine), which marks its 100th
anniversary in 2022 and has a domestic market shareof over 90%, is a pharmaceutical that is indispensable
in medical settings. ASKA has addressed diverse
medical needs as a leading company in the thyroid
field through measures including the launch of an
injectable formulation in 2020.
Going forward, we will utilize the Internet and social
media as well as seminars and other initiatives in ourefforts to widely provide thyroid-related information to
the general public.
For medical professionals, we will promoteawareness of the 100th anniversary of THYRADIN and
its proper use through joint seminars with related
academic societies and exhibitions, and for healthcheckup facilities we will provide disease awarenessmaterials and online seminars to promote thyroid
function tests.

Jun Ohata

Assistant Manager
Production Control Department,
Production Division
ASKA Pharmaceutical Co., Ltd.

Director of Pharmacovigilance Department,
Quality & Safety Assurance Division
ASKA Pharmaceutical Co., Ltd.

Activities for Raising Awareness ofThyroid-related Disorders
On the occasion of the 100th anniversary of the birthof THYRADIN, we are conducting a wide range ofactivities to raise awareness of thyroid-relateddisorders. As activities for the general public, we
presented the thyroid awareness video “What’s theThyroid?” on the TVer streaming service in summer
2022, and also launched the landing page “What’s theThyroid? Feel reassured knowing about the thyroid.”
In May of this year, ABC Cooking Studio Co., Ltd.,
Health Lab Mint+ for Women’s health and ourEndocrine Business Unit collaborated to hold an online
seminar on the thyroid. The seminar was a great
success, with participants who were highly interested
in the thyroid asking many questions.
Reference: See Health Lab Mint+ for Women’s health on page 38

For medical professionals, we are planning to holdonline seminars at several locations nationwide, where
thyroid specialists will explain initiatives for testing,diagnosis and treatment.

Sales of Thyroid-related Products*
Aiming for¥10 billion(Millions of yen)

12,000

8,432

8,768

9,116

9,310

2019

2020

2021

2022
(Forecast)

10,000

8,000

4,000

0

* THYRADIN, MERCAZOLE, PROPACIL
Note: Financial results base

Sapkota Hemraj

We are formulating numerous plans to approachthyroid-related academic societies with the aim ofholding co-sponsored seminars on a wide range of
topics related to thyroid disorders, not limited totreatment and diagnosis.
At the Japan Society of Ningen Dock, we will holdan exhibition to promote thyroid disorder testing, andwork to raise awareness of the thyroid gland fromvarious perspectives. We will create a system thatencourages as many people as possible who undergo
health checkups to undergo thyroid disorder testing,further enabling early detection.

2025(Target)(FY)

Thyroid awareness video

Landing page
“What’s the Thyroid? Feel reassured
knowing about the thyroid”

Note: For more information on the sustainability initiatives and the human resource initiatives of ASKA Pharmaceutical Holdings see pages 30 and 33-36, respectively.

24

ASKA HD REPORT 2022

ASKA HD REPORT 2022

25

Explanation of Strategy

Business Conditions

ASKA Animal Health

We aim to be the “one and only
company” leading the industry.

Message from the President

ASKA Animal Health Co., Ltd. is developing its business based on thetwo pillars of veterinary pharmaceuticals and animal feed additives, inaccordance with the corporate philosophy of “contributing to thecreation of a society where people and animals can coexist byprotecting animal health and food safety.” The domestic livestock andfisheries industries are facing difficult circumstances, having to deal
with such issues as tariff reductions and unprecedentedly high feed
prices due to TPP11 (Comprehensive and Progressive Agreement forTrans-Pacific Partnership), in addition to a decreasing number ofmarket participants and an aging population. On the other hand,looking at the companion animal industry, we are experiencing
unprecedented changes in the operating environment due to theincreased longevity of companion animals, increased demand due tothe COVID-19 pandemic, and the expansion of markets in emerging
countries. As we develop our business targeting these two completely
different types of animals, livestock and companion animals, we aresensitive to the different situations in Japan and overseas, and we arecommitted to becoming the “one and only company” leading theindustry through useful products that contribute to improved livestockand fisheries productivity and support the health of companion animals.

Fumiyoshi Yamaguchi
President, Member of the Boardof Directors, Representative Director

Net Sales
7,000

5,000

strengths in breeding, immunity, and nutrition, andcontribute to productivity improvement by proposing
products that meet user needs, such as hormone
preparations for breeding, amino acids, and mixed feed. In
addition, we will develop activities in cooperation withveterinarians in order to quickly raise awareness of companion
animal pharmaceuticals that are scheduled for launch.

4,502

3,000

8%

2,000

Mixed feed

1,000
0

2019

2020

2021

2025

(FY)

Net sales in FY2022 are expected to be comparable to FY2021
Note: Financial results base
ASKA HD REPORT 2022

1%

Companion
animal-related

OthersTarget animals: Cattle,
horses, pigs, chickens,
fish, dogs, cats

WAKUMO HATE, a herbal mixed feed launched in April
2021, won the IPPS Award 2022 in the Poultry category
at the International Poultry & Pig Show Japan 2022 (IPPS
Japan) (Port Messe Nagoya, April 27–29, 2022, 229
companies exhibited, 22,664 visitors in total). This award
is determined by the number of votes cast by visitors forthe products and services entered by each company. The

26%(23 entries), and Food (3 entries) categories. The

53%
Feed
additives andmaterials

background for the award is the long-standing damage

Scene at the award
ceremony

caused by dermanyssus gallinae* in the poultry industry.
We will continue to promote the use of WAKUMO HATE
to contribute to animal welfare by reducing the stressand damage caused by dermanyssus gallinae.

Net sales
composition(FY2021)(Target)26

5%Fisheries
pharmaceuticals

4,000

Launched in October 2019
Target animals: Cattle

Amino acid (feed additive)
L-methionine “ASKA”

highest number of votes in the Poultry (18 entries), Pork

7%

4,742

Intravaginal progesterone
device in combination
with estradiol benzoate
PRID DELTA

award was presented to the product that received the

5,630

6,000

Main Products

WAKUMO HATE won the IPPS Award 2022 in the Poultry category

Target in Medium-Term
Management Plan
2025: Over ¥6 billion(Millions of yen)

Trilostane, is a canine hyperadrenocorticism agent. It isscheduled for launch this fiscal year, and we are preparing
for its launch so that it can gain market recognition as soon
as possible.
Regarding the status of our mainstay products, we are firstof all moving to secure stable supplies of feed additives suchas L-methionine in the same volume as the previous year,
despite concerns about the impact of foreign exchange rate
fluctuations. For AIVLOSIN, an antibiotic preparation, we arepromoting new adoption while enhancing disease-specificcountermeasure tools and developing study session
materials. For PRID DELTA, we plan to hold online seminars
to further penetrate the market.
As for large-scale exhibitions, we participated in theInternational Poultry & Pig Show Japan 2022 (see Topic
below) in April 2022, and plan to participate in the National
Wagyu Ability Exhibition in Kagoshima and the Federationof Asian Veterinary Associations (FAVA) Congress later in
FY2022 with the aim of developing new customers.

TOPIC

Business Overview and Performance
As a result of our focus on expanding sales of existingproducts and products launched from FY2019 to FY2021, we
achieved record high net sales of ¥5.63 billion. In FY2022,
we will continue to focus on expanding sales of priority
products in the livestock and fisheries field, while steadily
preparing for market penetration of companion animal
pharmaceuticals scheduled for launch in the current fiscal
year. In the livestock and fisheries field, we will focus on our

Major Initiatives* Dermanyssus gallinae (red mite) is an ectoparasite that sucks blood frombirds, causing anemia, emaciation, reduced egg laying, and death fromblood loss.

Product material(left) and award(right)Livestockpharmaceuticals

ASKA HD REPORT 2022

27

Explanation of Strategy

Business Conditions

ASKA Pharma Medical

Message from the President

Junichi Saito
President, Member of the Board of
Directors, Representative Director

We will contribute to the creationof a vibrant, healthy society
through our unique technologies.
ASKA Pharma Medical Co., Ltd. specializes in the testing business basedon the corporate philosophy of “contributing to the creation of a vibrant,
healthy society through the latest measurement technologies.” Utilizing
the advanced technologies and abundant know-how we have cultivated
to date, we aim to contribute to a wide range of fields, including basic
research, clinical research, and diagnostics, with a focus on themeasurement of steroid hormones and other bioactive substances.
Recently, with the rapid aging of society, extending healthy life
expectancy has become an important issue. Preventive medicine,
improving pre-symptomatic conditions, and self-medication are attracting
attention as approaches to solving this issue, and we believe that our
proprietary microdetermination technology can make a significant
contribution to the efficient implementation of these healthcare
programs. In particular, our technology for highly sensitive measurementof non-invasive, self-collectable samples such as hair and saliva can play avery important role in improving healthcare, and we will make full use ofthis technology as we help to create a vibrant, healthy society for the
future.

Major Initiatives
We are promoting the hair hormone measurement businessas a new business. Since the FY2021 launch of our DHT kit,in an effort to expand test items, we have been proactively
developing test kits to determine the decrease intestosterone levels, which is considered a cause of malemenopausal disorder, and the increase in stress-related
cortisol levels, as well as a kit to identify thyroid diseases inpets (cats and dogs).
In the thyroid disease testing business, we will provide
total support by measuring thyroid hormones with highaccuracy and developing biomarkers related to thyroid
diseases. This will enable us to maximize the value of thyroid
disease treatments, which is one of the strengths of ASKA
Pharmaceutical.

contracts related to cohort studies* and clinical trials utilizing
our strength in microdetermination technology, as well as thelaunch of a hair hormone level measurement kit dihydrotestosterone(hereinafter a ”DHT kit”) which was jointly developed with
ASKA Pharmaceutical. We will continue to develop our testing
business based on our proprietary microanalysis technology.

Main Product
AGA* Risk Assessment
Hair hormone level measurement kit
dihydrotestosterone
Launched in July 2021
* Androgenetic alopecia

Hair hormone
measurementbusiness

Initiatives to expand test items
Launched a hair hormone level measurement kit dihydrotestosterone (July 2021)
Launch a kit for male menopausal disorder by the end of this fiscal year

Thyroid disease
testing business

Collaboration with ASKA Pharmaceutical’s Sales Division
Total support for thyroid disease (testing and treatment)
See page 25 for details.

Strengthening of
testing businessstructure

Accreditation as a clinical laboratory
Increase corporate value and strengthen ties with major testing companies

Business Overview and Performance
We are developing our business mainly in the steroid hormone
measurement business using a liquid chromatography-tandem
mass spectrometry (LC-MS/MS) measurement method. In
particular, we have developed a number of proprietarymeasurement technologies that can meet a wide range ofneeds: (1) a multi-item simultaneous analysis method from asingle sample, (2) an ultra-high-sensitive method for measuring
estrogen, (3) a method for measuring hormones in hair fromas little as 1 mg of hair (5 to 10 strands), and (4) a method formeasuring hormones in various matrices (tissue, saliva, urine,and cultured cells) that have traditionally been difficult tomeasure. These measurement technologies are also employedin the microdetermination of hormones in animal samples,
which is indispensable in fields such as drug development.
In FY2021, we were able to increase sales even during the
COVID-19 pandemic due to an increase in measurement

Furthermore, as part of efforts to strengthen the structureof the testing business and enhance our corporate value, wewill acquire accreditation as a clinical laboratory by October
2022, collaborate with major testing companies, and begin
accepting commissioned diagnostic samples.

Contributing to
the creation of a vibrant,
healthy society throughthe latest measurement
technologies

TOPIC* An observational research method for studying the relationship between
factors and onset of disease

Test kit development in the hair hormone measurement business
As the first step in our hair hormone measurement

Endogenous Hormone Microanalysis

business, in July 2021 we launched the DHT kit. This kit(steroid hormones, thyroid hormones, etc.)

enables measurement of male hormone (dihydrotestosterone)

Our technologies

levels in hair, an indicator of AGA (androgenetic alopecia)

High sensitivity analysis of steroid hormones
Multi item simultaneous analysis of steroid hormones
Analysis of a wide range of matrices

from hair samples of as little as 1 mg (5 to 10 strands).
Since its launch, the product has been highly evaluatedby AGA clinics, healthcare companies, and consumers,
and sales have been steadily increasing.
In order to meet a variety of needs, we will continue tocontribute to healthcare by developing test kits for use in

Study sample
commissioned
business

Hair hormone
measurementbusiness

Thyroid disease
testing businessa wide range of fields, including male menopausal

Hair hormone level measurement kit dihydrotestosterone

disorder, stress, thyroid diseases, and female hormones.

Collaboration with ASKA Pharmaceutical

28

ASKA HD REPORT 2022

ASKA HD REPORT 2022

29

Foundation for Value Creation

Sustainability at ASKA Pharmaceutical Holdings

E: Environmental

As a company involved in life-related issues, ASKA Pharmaceutical Holdings not only engages in business activities(providing valuable products), but also broadly contributes to society as a member of society and the community
by promoting ESG (environmental, social, and governance) initiatives, thereby helping to achieve the SDGs
(sustainable development goals).

Main SDGs Addressed by ASKA Pharmaceutical Holdings

See pages 10-11 for details.

The Group has identified 17 material issues from the perspective of relevance to its business and social contribution. In particular,
we believe that contribution to women’s health and contribution to animal health are material issues in which we candemonstrate our strengths. The Group will work on each issue and contribute to the achievement of the SDGs.
Category

Material Issues

Basic Principles 
3. We will strive to continuously reduce the environmental
impact from research, development, production, sales
and other business activities.
4. We will conduct environmentally friendly facility
planning and technology and product development.
5. We will strive to improve environmental communication
as a corporate citizen.
6. We will strive to educate employees and raise theirawareness about the environment.

The Group considers initiatives to deal with environmental
problems to be its natural mission and in keeping with its
corporate philosophy as a corporate entity that contributes
to society and earns its trust. We have established andconstantly implement the following basic environmental
policies to protect the environment and continuously reduce
the environmental impact of all our business activities.
1. We will establish an environmental management
structure.
2. We will comply with environmental laws andregulations and other requirements.

SDGs

Environmental Management Structure 
Environmental
See pages 31-32 for details.

SocialSee pages 33-38 for details.

GovernanceSee pages 39-45 for details.

Reduction of environmental impact
Environmental management
Contribution to women’s health
Human resource development
Employee engagement
Expanding access to healthcare
Ensuring product quality and safety
Social contribution activities

Contribution to animal healthAchievement of work-life balance
Creation of innovative products
Supply chain management
Promotion of proper use of products
Promotion of diversity• Company-wide Environmental Management Structure
President

Corporate governance
Secure compliance with laws and regulations,enforcement of complianceLong-term corporate value enhancement

ESG Committee and identified the material issues (the mostimportant issues) to be addressed throughout the Company.
We will make every effort to adhere to our corporate
philosophy, improve corporate value over the medium tolong term, and deepen our relationships of trust withstakeholders.

We provide a stable supply of high-quality pharmaceuticals and conduct appropriate activities to provide pharmaceuticalinformation. We also make wide-ranging contributions to society through our innovative and original drugs.

We believe that our human resources
are the driving force behind our
corporate activities. We ensure aharmonious workplace environment
with respect for diversity—it is a place
where employees can work with peaceof mind and fully demonstrate theircapabilities.
Local communities

We promote environmental conservation andcommunication with local communities to be a good
corporate citizen that is trusted by society.

30

ASKA HD REPORT 2022

Management Council

ESG Committee

Environmental Management Supervisor(Division Director, Administrative Division)

Promotion
Managers
Committee

Corporate Planning Department(CSR)

General Affairs Department(Secretariat)

Company-wide Environmental Management Meeting
Office Environmental Management Supervisor
Iwaki Factory

Shonan Research Center

Head Office/Sales(As of July 1, 2022)

Toward the Realization of Low-carbon Society Patients and medical professionals

Employees

ASKA Pharmaceutical
Holdings

ESG Promotion
Meeting

Involvement with Stakeholders
Our mission is to serve stakeholders and to help achieve asustainable society through activities from an ESG
perspective based on the United Nations’ SDGs, as a total
healthcare company centered on providing pharmaceuticals
that meet contemporary needs as well as animal health andhormone testing businesses. When we transitioned to aholding company structure, we also decided to establish an

results under the medium-term environmental plan and thegoals for FY2022. We believe that information sharing andexchange of opinions among the attendees help to promote
environmental measures throughout the Company.

To effectively practice environmental management, ASKA
Pharmaceutical also regularly holds the Environmental
Management Meeting, with Company-wide participation.
Discussion at the FY2022 meeting covered the FY2021

Customers

To maintain sound, healthy
relationships with our customers,
we strive to conduct business on an
equal footing and avoid causing
unreasonable losses.

Shareholders and investors

We disclose information in a timely, fair, and appropriate manner,and strive for stable return of profit. We also ensure the soundness of
our management and work to continuously improve corporate value.

The Group considers climate change to be one of the mostimportant issues for global environmental conservation, andis working to reduce its greenhouse gas emissions.
ASKA Pharmaceutical is promoting the deployment of
eco-friendly commercial vehicles and is using hybrid vehicles
in all cases except for 4WD vehicles in cold regions. At its
head office building, ASKA Pharmaceutical has switched to
LED lighting and implemented other energy-saving measures.
The research center has been relocated to the Shonan HealthInnovation Park,*1 which generates its own energy supply
from high-efficiency in-house power generation and solar
power. At the Iwaki Factory, although the amount of energy
used in FY2021 increased due to the start of operation of a
new building for formulations, the manufacture of new
products and other factors, we made efforts to improve theefficiency of cogeneration system operation and the
manufacturing process. Company-wide energy consumption
totaled 6,415 kl of crude oil equivalent, while emitting

12,251 tons of CO2 emissions, a 7.3% reduction from theprevious year.

• CO2 Emissions Volume
Solar power
generation*2
75,231 kWh(t-CO2)18,000

Solar power
generation*2
91,439 kWhSolar power
generation*2
80,821 kWh

27%
Reduction

25%
Reduction

12,953

13,2152019

2020

Solar power
generation*2
102,451 kWh

17,72615,00031%
Reduction
12,00031%
Reduction
12,251

12,203

9,000

0

2013

2018

2021

(FY)

*1 S cience park established based on industry, government, and academia
collaboration*2 ASKA Pharmaceutical Iwaki Factory

ASKA HD REPORT 2022

31

Foundation for Value Creation

E: Environmental

Human Resources
Basic Principles Disclosures Based on TCFD Recommendations
The Group considers the issue of climate change to be a
management issue that affects its business, and iscommitted to climate change measures. From thisperspective, we have been disclosing climate changerelated information since June 2022 in line with the Task
Force on Climate-related Financial Disclosures (TCFD)
recommendations established by the Financial Stability
Board (FSB) in 2022 at the request of the G20.
Through the implementation of scenario analysis andidentification of risks and opportunities for FY2021
based on the TCFD framework, the Group is developing
measures to address the risks and opportunities
associated with climate change and is working to
improve the resilience of its business in the face ofclimate change. Among the items required for disclosure
under TCFD, the Group’s business risks and opportunities
in the context of climate change (strategy) are discussed
below.

• Risks

Physical
Risks

(%)
100

(%)
100

95.7

72.0

79.2

66.7

63.6

84.6

Target
70.0

60

60

MarketRisk that climate change will cause a rise in raw material prices, which will lead to a rise in the cost ofliving for patients, thereby discouraging them from seeing a doctor

40

40

Reputation

Increase of stakeholder concerns due to delays in climate change action

Chronic

Risk of increase in operating expenses, such as increase in manufacturing costs due to climate change

Acute

Risk of supply chain disruptions due to disasters caused by extreme weather events

20

20

4.3
0

28.0

2016

2017

New graduates

20.8
2018

33.3
2019

36.4
2020

15.4
2021

30.0
2022 (FY)0Mid-career hires

65.2

68.0

54.2

56.7

63.6

53.8

Target
60.0

34.8

32.0

45.8

43.3

36.4

46.2

40.0

2016

2017

2018

2019

2020

2021

2022 (FY)

Women

Men

Human Resource Model That ASKA Pharmaceutical Aims For
S trengthening competitiveness against climate change-related increases in disease and changes in consumer preferences
leads to greater demand for products• 
Proactive initiatives to address climate change risks enhance operational sustainability and stakeholder evaluation, leading
to opportunities for share price appreciation

Note: Items other than strategy can be seen on our website. https://www.aska-pharma-hd.co.jp/english/csr/tcfd.html

Establishment of a Recycling-oriented Society As part of our efforts to build a recycling-oriented society
aimed at more efficient resource use, minimizing waste asmuch as possible is an important issue for maintaining
business continuity. We have set the reduction of waste as atarget in our medium-term environmental plan and are
actively working on resource saving and waste reduction
measures. Of the 174 tons of waste generated by ASKA
Pharmaceutical’s factory and research center in FY2021, 101
tons were ultimately recycled, which is 58% of the total
amount of waste generated. In addition, 65 tons were finallydisposed, or 37% of the total amount of waste generated.

• Total Waste/Amount Recycled/Amount for Final Disposal/

ASKA Pharmaceutical has set forth the following four items as
human resource characteristics it prioritizes as it works to realize
its ideal organizational image and maximize the capabilities of its
human resources.
In order to develop human resources who possess thesecharacteristics, in addition to mandatory training programs inwhich trainees are determined uniformly, we have introduced a
training system that allows employees to choose and takecourses on their own initiative, and we are developing anenvironment that responds to their desire to learnautonomously. We aim to be an organization where eachindividual can pursue a variety of careers, grow, and acquire
knowledge and skills on their own initiative, and to be anorganization with a diverse workforce that can play an activerole regardless of age or attributes, leading to the creation ofvalue for the organization.

Recycling Rate (Factory and Research Center)

FY2019FY2020

FY2021

Total waste (t)

293

144

174

Amount recycled (t)

189

95

101

Amount for final disposal (t)

55

43

65

Recycling rate (%)

64

66

58

Factory and research center

FY2019: Overall waste increased due to preparations for research center
relocation, and the amount of paper waste increased due toreorganization and disposal of stored documents, resulting in an
increase in the amount recycled.
FY2021: Waste volume increased mainly due to the digitization of the package
inserts, partial discontinuation of manufacturing processes, andproduct recalls.

Management of Air and Water Resources Management of Chemical Substances 

To prevent air pollution, the Group is working to reduce
emissions of hazardous substances. We measure and report
the concentrations of NOx, SOx, soot and dust at ourbusiness locations twice a year, and all of theseconcentrations are below the standard values.
In addition, water resources used at our business locations
are discharged into rivers and sewers after appropriate
treatment and water quality control in accordance withregulations. At the ASKA Pharmaceutical Iwaki Factory, we
conduct daily water quality monitoring, weekly water quality
analysis, reporting to the Iwaki City Environmental
Monitoring Centre, and on-site inspection (once a year), allof which meet the standard values. We will continue to strive
to reduce emissions of hazardous substances throughappropriate management of air and water resources.

The Group handles a wide variety of chemical substances
and is committed to thorough management of thesesubstances, which includes their safe use and storage. We
have also established a system for the proper managementof chemical substances at each of our business locations, andreview the rules and regulations for this system as necessary.
We will continue to reduce emissions and transfers ofchemical substances subject to the Pollutant Release andTransfer Register (PRTR)* system and promote appropriate
management of chemical substances by considering the useof alternative, safer chemical substances.

ASKA HD REPORT 2022

• Percentage of Men and Women in the Full-Time
Employee Recruitment of ASKA Pharmaceutical

80

•

32

• Percentage of New Graduates and Mid-career Hires in the
Full-Time Employee Recruitment of ASKA Pharmaceutical80• Opportunities
Opportunities

are making Group-wide efforts to enhance each organization’s
specialty and ability to create. In particular, in order to respondto rapid changes in the economy and society, we will look toboth the development of internal human resources and theacquisition of external human resources, and will actively utilize
related initiatives with the goal of securing diverse humanresources who will play central roles in the organization, with
global and digital human resources at the forefront.

Risk of unexpected pandemics due to climate change, as well as drug price reductions that exceed
expectations due to the financial pressures on healthcare caused by an aging society with a declining
birthrate

Policies
Transition
Risks

Based on the idea that the Group’s most important asset is its
human resources, we consider the skills and abilities of ouremployees to be human capital and strive to maximize thosestrengths through increased investment.
With regard to maximizing human resources, one of the sevenstrategies for laying the foundation for the realization ofMedium-Term Management Plan 2025 is the development of
human resources to realize growth strategies, and, as such we* A system for collecting and disseminating information about releases andtransfers of chemical substances

ChangeDiversity & Inclusion

Challenge

Reliability

Human resources who canrelearn as needed and growon their own

Human resources who can express
their opinions and take positions
among diverse human resources

Human resources who can takeon challenges (risk taking), andturn them into opportunities

Human resources who can
act reliably with high ethicalstandards and prideThe Ideal Organization That ASKA Pharmaceutical Aims For
An organization with thestrength to adapt to changes
in the environment

An organization that allows people
with diverse opinions to interact
and create the best solutions

An organization thatencourages taking onchallenges and evolves

An organization that continues
to be trusted by society

Human Resource Development Education and Training
With the goals of “developing and acquiring human resources
capable of responding to new businesses and changes in theenvironment” and “creating an environment in which a diverse
range of human resources, including women, professionals, andseniors, can play an active role,” the Group has designed
training programs that are linked to the personnel system so that
all employees can maximize their individual abilities and relearn
and grow on their own as the environment changes.
Specifically, in addition to mandatory Group-wide training andlevel-specific training, we also offer elective training programsfor the development of next-generation management leaders, aswell as programs to foster awareness of the promotion of
women’s advancement, and encourage their implementation in
the workplace. These programs include career design training
for female employees (selective training) and opinion exchange
meetings for management and female employees with the aimof promoting gender diversity. Furthermore, with a view toenabling employees to achieve rewarding lifelong careers, theGroup provides career design training for each age group (35,45, and 55 years old), and after the training, provides
opportunities for career interviews with outside career
consultants for those who wish to attend, thereby promoting
and supporting independent career development. In addition tothese programs, the Group has created an environment that
supports all employees in their desire to learn, which may
encompass selective training that employees can take voluntarily
and an e-learning system that allows them to work regardless oftime and place, thereby promoting an attitude of taking onchallenges and autonomous growth.
Furthermore, in addition to offering work styles geared towardadvancing employees’ careers in their current posts, ASKA
Pharmaceutical has proactively introduced inter-departmental
job rotation and an in-house recruiting system to promote careerchange through transfer to various positions within the Company.

ASKA HD REPORT 2022

33

Foundation for Value Creation

Human Resources• Education and Training Structure of ASKA Pharmaceutical Holdings
Mandatory Group-widetraining

Officers

Level-specific training

Employment of People with Disabilities

Division-specifictraining

Elective training

Selective training

Career design training

Training for newly assigned officers

New
employees

New employee follow-up training

Prospective employees

Training for prospective employees

New employee induction training

Fresher’s Leaders
Mentors

E-learning

Correspondence courses

Third year training
Second year training

External training course

Training for newly appointed section chiefs
and assistant managers

Leadership

Business skill selective training

General staff

Training for newly appointed executives

Specialized training by department

Compliance,
mental health,other

Organizational management

Studying abroad / Studying in Japan

Training for section managers

Language training

Training for department directors

Executives

Training for evaluated employees Evaluator training

Seniors

Career training by age

ASKA Pharmaceutical
ASKA Animal Health

ASKA Animal Health

ASKA Pharma Medical

ASKA Pharma Medical

Diversity & Inclusion Promoting Advancement of Women
The Group believes that it is important to respect diverse values
in order to achieve sustainable growth and increase corporate
value, and has established a workplace environment in which all
employees, regardless of age or attributes, can play an activerole. In particular, we set an index for the ratio of women in
management positions (central roles in management), and weare developing female managers by expanding the range of job
opportunities, creating a rewarding workplace, promoting
diverse and flexible work styles, and enhancing training
programs so that women can broadly demonstrate their abilities
according to their own desires.
ASKA Pharmaceutical, which plays a central role in the Group,
is a leader among pharmaceutical companies in the obstetrics
and gynecology field, and is gaining recognition as a company
that stays close to women. Accordingly, it is strongly promoting
women’s advancement in important positions within the
Company. Specifically, based on the Act on the Promotion of
Female Participation and Career Advancement in the Workplace(Act on Promotion of Female Participation), we have formulated
an action plan (Phase 3) for further promotion of women’s
participation, and are striving to foster a workplace environment
where women can fully demonstrate their abilities and play anactive role, with the goal of achieving the plan target by the endof FY2025. As a result of these efforts, the percentage of female
officers and female managers has been increasing year by year,
and as of June 2022 the percentage of female managers is 8.1%.

Development of the Next Generation
The Group considers the creation of an environment in which
the children of the next generation can be born and raised ingood health to be one of the issues that must be addressed andis promoting efforts to balance work and child rearing. 100% of
our female employees have returned to work after taking
childcare leave, and the Group has created an environment inwhich they can raise their children with peace of mind. For male
employees, as well, we have set a new target of a 100%
utilization rate and recommend that men Group-wide takechildcare leave.
The entire Group supports employees who are raising children,
and all employees participate in society’s efforts to support thedevelopment of the next generation by deepening theirunderstanding of gender bias.

34

ASKA HD REPORT 2022

ASKA Pharmaceutical: Action Plan for
Promoting the Advancement of Women
Plan period: Five years from
April 1, 2020 to March 31, 2025
1. Set the target percentage of female managers at 15%.
2. Implement specific initiatives to promote the health ofwomen.
3. Offer diverse and flexible work styles to enhance thework-life balance.
• Percentage of Female Managers among Full-Time
Employees of ASKA Pharmaceutical

15.0

(%)
15

6.8

6.9

6.4

7.1

2018

2019

2020

2021

8.1

5
0

2022.6*

2025

(FY)

* Total after the General Meeting of Shareholders in June 2022.

• Percentage of Female Officers (Members of the Board of Directors and Audit& Supervisory Board Members) of ASKA Pharmaceutical Holdings Co., Ltd.
April 2021

April 2022

June 2022*

7.7%

7.7%

14.3%

Percentage ofwomen* Total after the General Meeting of Shareholders in June 2022.

•M ale Childcare Leave Utilization Rate at ASKA Pharmaceutical
100

(%)
100

73

80
60

52

80

recognition. We aim to be a group where all humanresources can maximize their abilities and feel a sense offulfillment as we work toward the realization of an inclusive
society.

Occupational Safety and Health 
The Group is committed to occupational safety and health,placing the highest priority on workplace safety and physicaland mental health. In response to these issues, ASKA
Pharmaceutical, which plays a central role in the Group, hasestablished a safety and health management system at the
Shonan Research Center, Iwaki Factory, and at its head officeand each of its sales bases, and holds regular Safety and
Health Committee meetings. The Safety and HealthCommittee monitors long working hours, conducts
workplace safety inspections and other safety and healthrelated risk checks, and implements corrective and preventive
measures on a monthly basis. To prevent accidents anddisasters, as well as to minimize damage should those eventsoccur, each business location has established emergency
response procedures and conducts periodic drills.
In response to the COVID-19 pandemic, we set up a task
force at an early stage to give top priority to the safety of allconcerned, including employees and their families, andpromptly introduced a telecommuting system when the stateof emergency was declared in April 2020, which allowed us
to continue operations without difficulties. We continue toprovide information so that each and every employee canstay informed about safety and health, and practice
appropriate measures. As such, we are working to create aworkplace environment where employees can work

comfortably and with peace of mind.
In addition, the various safety and health-related
discussions held between labor and management are usefulfor improving the workplace environment and working style.

ASKA Pharmaceutical FY2022 Safety and Health Basic Policy
1. We will make Company-wide efforts to prevent the
spread of COVID-19. We will maintain social
responsibility through our business (stable supply ofpharmaceutical products) and ensure compliance with
the Guidelines for COVID-19 Prevention, recognizingthat this will help prevent the spread of infection
throughout society.
2. We will thoroughly inspect the work environment andprovide safety education to achieve zero work- andcommuting-related accidents.
3. We will promote activities to eliminate traffic accidents
in sales divisions and reduce the number of traffic accidents
involving Company vehicles by enhancing traffic safety
education and providing information on safe driving.
4. We will continue to implement comprehensive mental
health measures to ensure the health of employees,
both mentally and physically, and will promote healthmaintenance and promotion measures by encouraging
follow-up examinations by industrial physicians with afocus on long working hours and health management.

Health Management 

Target10

The Group strives to create a workplace environment inwhich all people (with and without disabilities) can work withvigor and enthusiasm. By working together, we share new
discoveries and knowledge, and foster a culture of mutual

ASKA Pharmaceutical, which plays a central role in theGroup, systematized its health initiatives based on safety andhealth management practices that still apply now. Earlier,from FY2018, it declared both internally and externally that it
would implement health management with the goal of
maintaining and promoting the health of employees andtheir families and enhancing work-life balance. With thetransition to a holding company structure in April 2021, allGroup companies have been promoting health management
based on a united ambition. We are not only managing thehealth of our employees, but also working toward the goalof physical and mental wellness, autonomous growth, andfurther enhancement of organizational productivity andcreativity. We will promote health management from various
perspectives so that employees, the organization, and society
can mutually share the valuable benefits of good health.

• Health Management Promotion Structure of ASKA Pharmaceutical Holdings
Health insurance
society

Cooperation

Periodic health checkups
Specific health guidance

TargetSenior Managing Member of the Board of Directors, Representative Director
Director of Human Resources Department

Industrial physician/occupational health nurse Cooperation

Cooperation

Cooperation

EAP (employee assistance program)Services

Human Resources Department

Projection

59

Labor union

Professional staff
Free 24-hourcounseling

Healthcare manager at each business base
(One executive member and one general staff member appointed as the responsible persons)40

Consultation

Consultation

Executives

Consultation

20
0
2018

2019

2020

2021

2025

(FY)

Notes: 1. Percentage of male employees whose spouses gave birth during the
fiscal year who took childcare leave
2. Male childcare leave utilization rate in FY2021 is a projection.

Consultation

Consultation

Consultation
Consultation

All Group employees

ASKA HD REPORT 2022

35

Foundation for Value Creation

Human Resources

S: Social

Health Management Targets and Future Initiatives
The Group has established and is working toward goals
tailored to the health management stage of each Group
company. In particular, in understanding employee health,which is the foundation of health management, we have set
and are maintaining a 100% health checkup rate and 100%
stress checkup rate for the entire Group.
ASKA Pharmaceutical, which plays a central role in theGroup, has set target figures for FY2025 in order to promote
improvement of lifestyle habits and further enhancement of

Basic Principles 
work-life balance.
In the future, we will also enhance our social contribution
activities through health management by linking the identitythat the Group has cultivated to date with healthmanagement. We will practice sustainable healthmanagement not only within the Group but also as an
example to other companies in different industries and to
local communities by constantly evolving and taking on ahigher level of commitment.

In addition to providing excellent pharmaceuticals andtreatments as a Group-wide business activity, the Group also
recognizes the various issues involved in the development ofa healthier society as a member of society and the local
community, and believes it has a role to play in helping toresolve those issues.

Social Contribution Activities 
Activities as a Corporate Citizen

HealthMaintenanceandPromotion

Step 1

Step 2By FY2020

FY2021 to FY2025

Assess mental and physical health

Improve lifestyle habits

Percentage of employees receiving
periodic health checkups: 100%
Percentage of employees receiving
stress checks: 100%

Exercise, sleep, diet, smoking,drinking, mental care

Step 3

Health managementtargets

Plan
ActionPlan
Do

ActionCheck

Work Style
Reform

Do

Improve presenteeism
Improve engagement

Check

Promote work-life balance

Promote work-life balance

Improvement of paid leave utilization rate
Reduction of long working hours

Practice of diverse and flexible work
styles Improvement of work
engagement

As a good corporate citizen, the Group actively promotes
communication with local communities and society andconducts initiatives that contribute to the local community.
ASKA Pharmaceutical supports women’s healthcare on an
ongoing basis by co-sponsoring public lectures with Women’s
Health Action, the Marunouchi Career Academy and otherorganizations. In addition, ASKA Pharmaceutical participates
as a supporting company in the Comfortable Menstruation
Project,* a workstyle reform project targeting women, basedon its affinity with the project’s concept of realizing a society
in which women can work comfortably. This participation
centers on promoting an accurate understanding of women’sbodies and menstruation and improving the health literacy ofsociety in general.
*Sponsored by Nikkei BP Intelligence Group

External Evaluation External Evaluation
Recognized as a White 500 enterprise under the 2022 Certified Health & Productivity Management
Outstanding Organizations Recognition Program (ASKA Pharmaceutical Holdings Co., Ltd.)

2022

Selected as one of the top 500 enterprises for Certified Health & Productivity Management
Outstanding Organizations and recognized as a White 500 company under the 2022 CertifiedHealth & Productivity Management Organizations Recognition Program.
(This is the fourth consecutive year that ASKA Pharmaceutical Co., Ltd., the core of the Group,
has been recognized.)
Received Healthy Company Declaration Gold Certificate (ASKA Pharmaceutical Co., Ltd.)The Healthy Company Declaration is an initiative to have 10,000 companies or more (30,000 atpresent) pledge that they are declaring their engagement in promoting health. The initiative iscarried out with the support of insurers such as the Japan Health Insurance Association, underthe Healthy Cities and Workplace Health Promotion Declaration 2020 of the Nippon Kenko Kaigi.

7th Women’s Health Action

毎年3月1日〜3月8日は「女性の健康週間」

オンライン
ライブ配信

Kurumin Certification (ASKA Pharmaceutical Co., Ltd.)
2021

Based on the Act on Advancement of Measures to Support Raising Next-Generation Children,
the Minister of Health, Labour and Welfare certifies companies that have formulated an action
plan for general employers and meet certain standards as companies that support child rearing.
Top Hundred Telework Pioneers Certification (ASKA Pharmaceutical Co., Ltd.)

事前登録制（無料）

2022年 女性の健康週間 丸の内キャリア塾 スペシャルセミナー

プログラム

今こそ学ぼうリプロダクティブヘルス＆ライツ

18:00 〜 18:25〜自分の健 康（ 人 生 ）は、もっと自分で決められる！〜
開催日時

2022年3月 1日（火） 主協 催賛
18:00〜20:30
後 援「SRHR を知っている？ 日本の憂うべき現状について」
横山 良仁先生（弘前大学大学院医学研究科産科婦人科学講座 教授）
18:25 〜 18:50

不妊治療「妊活と不妊治療とキャリア、
どう考えるか」松本 玲央奈先生（愛慈会 松本レディースリプロダクションオフィス 理事長）

日本経済新聞社 メディアビジネス イベント・企画ユニット

18:50 〜 19:15

日本産科婦人科学会、日本産婦人科医会
フェリング・ファーマ、あすか製薬、富士製薬工業、バイエル薬品

子宮内膜症「子宮内膜症とうまく付き合う方法教えます！」甲賀 かをり先生（東京大学大学院医学系研究科産婦人科学講座 准教授）
19:15 〜 19:40

登壇者※プログラムは変更する可能性がございます。

リプロダクティブヘルス総論

更年期「人生100年時代で女性が輝き続ける未来へ 〜やる気！元気！更年期！〜」

善方 裕美先生（よしかた産婦人科 院長 / 横浜市立大学産婦人科 客員准教授）
19:40 〜 20:05

女性のキャリア形成と健康「女性が主体的に考えるキャリア形成とからだの健康」

The Ministry of Internal Affairs and Communications has been recognizing enterprises andorganizations advancing the introduction and utilization of teleworking as Telework Pioneers andselecting and announcing companies with sufficient achievements as the top hundred telework
pioneers since FY2015.

36

ASKA HD REPORT 2022

S
 upport Projects, Donations, and Sponsorships for a
Public Interest Incorporated Foundation and Others
The Group supports the Yamaguchi Endocrine Research
Foundation, a public foundation that nurtures multifaceted
research into the causes, diagnosis, treatment, and prevention of
endocrine disorders. As part of efforts to actively disseminate
information on endocrine-related disorders and engage in
related awareness-raising activities, the foundation publishes
a wide range of information on its website, including thelatest information on endocrine-related disorders, for researchers,
specialists, and other interested parties.
In addition, in order to continue to be a group that coexists
with local communities, we provide financial support fordisaster recovery, poverty, and environmental issues, both inJapan and abroad. Recently, we have made donations to the
Keidanren Nature Conservation Fund, the Japan Association
for the World Food Programme, and Save the Children.

Hosting Company Visits and Factory Tours, andVolunteer Activitiess

The Group has established a workplace environment in which diverse human resources can play an active role in their respective
fields, and is implementing initiatives to improve productivity and create new value. In recognition of these efforts, we havereceived the following external evaluations.
FY

The Group conducts wide-ranging communication withsociety and makes active contributions as a good corporate
citizen as well as through its business activities. Based on our
corporate philosophy, we will continue to strive for growthand development as a Group that earns the trust of society.

門間 美佳先生（藤沢女性のクリニックもんま 院長）
横山 良仁 先生

松本 玲央奈 先生

甲賀 かをり先生

善方 裕美 先生

門間 美佳 先生

20:05 〜 20:30

質疑応答セッション

詳細・お申し込みは https://events.nikkei.co.jp/45155/ をご覧ください
申込締切

20２2 年 2 月22日（火）または日経イベント＆セミナー

お問い合わせ先：「丸の内キャリア塾 スペシャルセミナー」事務局

検 索

スマートフォンの方はこちらから▶

E-mail：marunouchi@nex.nikkei.co.jp

Marunouchi Career Academy Special Seminar

The Group hosts company visits and factory tours at all of its
business locations. ASKA Pharmaceutical’s Shonan ResearchCenter and Iwaki Factory offer internships and host tours forstudents and other groups from various industries. We intend
to continue to actively host company visits and plant tours in
the future.
The Volunteer Circle “Marguerite,” which was founded in2008 by employee volunteers, has been involved in a wide
range of activities mainly in Minato-ku, Tokyo, where theCompany’s head office is located. In March 2016, it received
the first Corporate Volunteer Award from the Tokyo
Voluntary Action Center in recognition of its activities. From
2020, due to the impact of the COVID-19 pandemic, eventsin the areas of our worksites were scaled back, making it
difficult to carry out activities as in the past. However, wehave been carrying out community-based activities where
possible, including spring and fall cleanup activities aroundour head office, and support for activities (collection anddonation of milk cartons) of NPOs in Minato-ku. We willcontinue with various activities including cooperation with
the Shibaura 2-chome Town Association Summer Evening
Festival, which resumed this summer, as well as ourassociation with the Minato Council of Social Welfare as amember of the community.
These volunteer activities also lead to the growth ofparticipating employees in terms of communication skills,
cooperation, positive attitude, and leadership.

ASKA HD REPORT 2022

37

Foundation for Value Creation

S: Social

Reliability Assurance

Activities of Health Lab Mint + for Women’s health—Knowing yourself, is protecting yourself
The key message of the Health Lab Mint+ for Women’s health is “Knowing yourself, is protecting yourself.”
The website “Health Lab Mint+ for Women’s health (Japanese only)” is a public service that provides womenwith accurate information about their bodies and health.
https://www.aska-pharma.co.jp/mint/ (Japanese Only)

Basic Principles 
The Quality & Safety Assurance Division of ASKA Pharmaceutical is
responsible for ensuring the quality and safety of our pharmaceuticalproducts in compliance with the Law on Securing Quality, Efficacy
and Safety of Products Including Pharmaceuticals and Medical
Devices and other laws and ministerial ordinances, as well as Good
Quality Practice (GQP), the Good Vigilance Practice (GVP) standards.

We carry out our duties with high ethical standards and a sense of
mission so that medical professionals and patients can use ourpharmaceuticals with confidence and peace of mind. Our basic
policy is to ensure that our pharmaceuticals are manufactured
correctly, and to provide information on the proper use of ourpharmaceuticals, and as such, contribute to medical care.

Message from the Division Director of the Quality & Safety Assurance Division

Mint+ teens for Teenagers
In addition to our established activities targeting women in their 20s and older, we haveenhanced our website by releasing Mint+ teens in August 2021. This site provides
teenagers with information about the changes in their physical condition, withparticular emphasis on information related to female hormones.

Release of Video Content for Teenagers—Exhibited a booth at Virtual TGC, the official Tokyo Girls Collection metaverse
In March 2022, we released a video on women’s health targeting teens. The video tells the storyof four students who are invited to a special class at their school with Teacher ASKA. The video
aims to deepen teenager’s knowledge about their bodies and female hormones, and addresses
the real questions and concerns of high school girls.
In addition, in order to have more teenagers watch this video we have started a full-scale campaign targeting the younger
generation. We have opened a booth as a partner at Virtual TGC, the official metaverse of Tokyo Girls Collection, where we
provide the opportunity to view the video and introduce Mint+ teens to this audience.

Survey of Teenage Men and Women on
Menstruation and Other Painful Conditions
Specific to WomenWith a target of adult men and women, in
2020 we conducted the Survey on Men’s andWomen’s Attitudes toward Menstruation andOther Painful Female Hormone-related
Conditions Specific to Women. Following thissurvey, in 2022 we conducted a similar survey
targeting teenage men and women. A totalof 300 boys and girls aged 15 to 19 weresurveyed nationwide with the aim of clarifying
the knowledge and awareness of teenage
boys and girls toward menstruation and other painful conditions
specific to women, as well as associated behaviors, and we released
the results of the survey.

Health and Physical Education Supplementary
Material for High School Students
High School Students “Now” - The Female
Body: What You Should Know
In 2022, we also publishedhealth and physical education
supplementary material for highschool students and distributed
it to educational institutions
throughout Japan. We distributeHigh School Students “Now”- The Female Body: What You
Should Know, and provide othersexual education materials forlearning about menstruation and contraception.

ABC HEALTH LABO × Mint+— a Project to Promote Women’s Health Starting from Food

Maiko Mori
Member of the Boardof Directors, Executive
Corporate Officer,
Division Director of
Quality & Safety
Assurance Division
ASKA PharmaceuticalIn the domestic pharmaceutical industry, repeated revelations of manufacturing irregularities have shaken
confidence in pharmaceutical companies, and the supply of pharmaceuticals can sometimes be unstable. The
mission of the Quality & Safety Assurance Division is to ensure quality assurance and safety control so that
medical professionals and patients can use our pharmaceutical products with peace of mind, in compliance withlaws and regulations.
Sometimes we have to make tough decisions. Our daily efforts do not always show up in the numbers. The
slightest lapse of attention, compromise, or act of self-interest can even lead to problems that could affect thesurvival of the Company. In this challenging environment, the fundamentals of reliability assurance are to avoid
making judgments based on assumptions and wishful thinking (checking the evidence), to have the courage toaccept facts and mistakes (risk minimization), and to take measures to prevent the same thing from happening
again (improvement). The Quality & Safety Assurance Division is the backbone that ensures that our pharmaceuticalproducts are of the highest quality. Each and every one of us should take pride in our work, and work together tomove forward as we continue developing as a company that is needed by society.

Reliability Assurance Structure 
In the Quality & Safety Assurance Division, under the supervision of
the Division Director in charge, who is also General Marketing
Supervisor and the responsible officer (an officer in charge of
operations related to pharmaceutical affairs laws and regulations),
the Quality Assurance Manager is assigned to the Quality Assurance
Department (a GQP department), and the Safety Control Manager
is assigned to the Pharmacovigilance Department (a GVP
department), while the Regulatory Affairs Department is responsiblefor quality assurance and safety control of our pharmaceuticalproducts in a unified manner, which involves appropriately
maintaining manufacturing and marketing approval certification. In
addition, the Drug Information Unit supports the proper use of our• Reliability Assurance Structure

products by responding to inquiries from medical professionals andpatients in a timely manner. We are working to ensure compliancewith the revised Law on Securing Quality, Efficacy and Safety of
Products Including Pharmaceuticals and Medical Devices andguidelines on legal compliance, clarify the division of duties andscope of responsibility of responsible officers, and update andimprove Company and procedural manuals to further strengthen
our governance and other aspects of our operations. We willcontinue to work closely with related divisions to ensure the reliable
provision of our pharmaceutical products to medical professionals
and patients so that they can be used with peace of mind.

Representative Director
Chairman of the Board
President
Responsible officer

Three officers
within Marketing
Authorization
Holder of Medical
Products

Member of the Board of Directors
Division Director of Quality & Safety Assurance Division
Responsible officer
General Marketing Supervisor

Regulatory Affairs Department

Quality Assurance Department

Pharmacovigilance Department

Drug Information Unit

Negotiations with regulatory authorities
Regulatory procedures

Quality Assurance Manager

Safety Control Manager

GQP/Quality assurance

GVP/Ensuring safety

Inquiry handling/support for proper use
for medical professionals/patients(October 2022)

In collaboration with ABC Cooking Studio Co., Ltd.’s ABC HEALTH LABO, the Mint+ website publishes ABC Cooking
Studio recipes and columns that provide accurate information about women’s health and dietary habits from theperspective of food to help women lead healthy lives. In November 2021, we launched the Project to Promote
Women’s Health Starting from Food, and have held online seminars on female hormones and the thyroid.

Future Initiatives
In FY2022, we plan to sponsor the Sexual Education Project, an initiative planned by The Asahi Gakusei Shimbun Company and Dentsu
Inc. to provide sexual education information to elementary and junior high school students and their parents. We will also consider
collaboration in the Femtech business to provide suggestions for women on leading healthy and enriched lives from various perspectives.

38

ASKA HD REPORT 2022

Reliability Assurance Initiatives 
The social environment is changing and pharmaceuticalregulations related to pharmaceuticals are becoming stricter
every year. As our relationships with overseas companies arefurther strengthened, quality assurance and safety control shallbe carried out under global standards, thus we need to continue
to develop a system that enables us to keep up with the times,
which includes understanding and absorbing regulatory informationfrom Europe and the United States, not to mention improving
English language skills. Each and every one of our employees
will keep a close watch on upcoming trends and will takevarious initiatives to stay abreast of events and continue to grow.

Quality Assurance
Department

Enhancement of auditing system by improving the qualificationsof GMP* auditors and utilizing external resources

Pharmacovigilance
Department

Enhancement of personnel and systems for pharmacovigilance
audits in Europe and the United States

Regulatory Affairs
Department

Strategic negotiations for early acquisition and proper
maintenance of manufacturing and marketing approvals

Drug Information
Unit

Expansion of AI chatbot and improvement of userconvenience* Manufacturing and quality control standards for pharmaceuticals and quasi-drugs

ASKA HD REPORT 2022

39

Foundation for Value Creation

Messages from Outside Directors

G: Corporate Governance/Compliance/Risk Management

With a focus on the sustainable growth of ASKA Pharmaceutical Holdings, we present messages from threemembers of the Board of Directors (Outside Directors), providing insights from their professional and objective
perspectives, as well as their expectations for the future of the Group.

The road to becoming a flagship company
in women’s medicine

Yasunori Yoshimura
Member of the Board of Directors,
Outside Director
ASKA Pharmaceutical Holdings

In a society with an unprecedentedly low birthrate, it is women and children who
will build the future of our country. We must provide comprehensive support for
women’s health issues throughout society so that women can live healthy, bright,
and fulfilling lives autonomously. Society demands that we play a pivotal role inproviding comprehensive support for women’s health that is appropriate for theirlife stages, which entails improving the quality of life for all people and creating astable healthcare industry. As an Outside Director, it is my duty to enhance
corporate value by investing in the health of human capital with the aim ofrevitalizing the organization and improving productivity, and by implementing theCompany’s corporate philosophy based on a long-term vision.

ASKA Pharmaceutical Holdings (the “Company”) aims for sustainable growth and improvement of corporate value
over the medium to long term for itself and its subsidiaries (the “Group”) and is continuously working to build andstrengthen the best and most effective corporate governance structure as the basis for achieving this aim.

Basic Principles 
We always pursue and continually work to maintain the best corporate governance in line with the following basic principles.
1. We will strive to effectively secure the rights of shareholders and will ensure shareholder equality.
2. We will strive to cooperate fully with stakeholders and will foster a corporate culture and climate that respects the ethics ofsound business practices.
3. We will appropriately disclose the Company’s financial, management, and other information to ensure transparency.
4. The Board of Directors will establish an environment where bold management decisions are made based on corporate
strategies and will conduct highly effective supervision of directors.
5. We will engage in constructive dialogue with shareholders.
The full text of the Basic Principles is available on the Company’s website (Japanese only).
https://www.aska-pharma-hd.co.jp/invest/governance/governance.html

Corporate Governance Structure 
Under the Company’s corporate governance structure corporate officers execute business and members of the Board of
Directors concentrate on management and supervision functions.
General Meeting of Shareholders
Appointment/Dismissal

Audit &
Supervisory
Board

Michizo Yamanaka

Message for a sustainable 200 years

Member of the Board of Directors,
Outside Director
ASKA Pharmaceutical Holdings

40

ASKA HD REPORT 2022

Board ofDirectors

Audit

Findings

We live in an era of constant change. Capitalism has shifted from financial
capitalism to public interest capitalism. Corporations that were motivated simply
by making profits will become more focused on contributing to the public. Workis shifting from routine jobs to non-routine jobs. The abilities of the manpower
needed against this backdrop are those that can solve and imagine. These abilities
are required not only within a company, but throughout society. In an age whenthe questions of “What is a good company?” and “What is a good way towork?” are being asked from the standpoint of public philosophy, our true
abilities should be directed to the fullest extent toward the company, thecommunity, consumers, and working women. As an Outside Director, I will
endeavor to steer the Company in a way that contributes to the enhancement of
the value of society as a whole.

Cooperation

Instruction
ReportAudit
Department

Audit

Internal Audit

Group Nomination
Committee
Group Remuneration
Committee
ESG Committee
AdviceReportMember of the Board of Directors,
Outside Director
ASKA Pharmaceutical Holdings

Tsutomu Harino

Appointment/Dismissal
AdviceAccounting Auditor

Drastic changes in a company’s business domain can come from unexpecteddevelopments. For example, with the shift to digital cameras, film manufacturers
faced the need to make drastic changes in their business. In the medical world,
advances in regenerative medicine and implantable devices may have a major
impact on pharmaceuticals as well. Rather than resisting these advances, we need
to be proactive in adopting them as our own technology. The role of a holding
company is to develop strategies from a long-term perspective and lead its
operating companies in supporting change. I will fulfill my responsibility tosupport this role.

Appointment/Dismissal

Management Supervision

Compliance
Promotion
Committee

Consultation

Representative
Directors
Management Council

Direction andSupervision

Business Strategy Meetingof the Group

Corporate Officers
Operating Departments

Report/Proposal

AdviceConsultation

Report/Proposal

Corporate Lawyer

Taking advantage of the holding company structure
to leap forward into the futureGroup Companies
ASKA Animal Health Co., Ltd.

ASKA Pharmaceutical Co., Ltd.

Board of Directors
The Board of Directors meets basically once a month andalso holds special meetings as needed. It makes decisions on
business execution policies and other important mattersconcerning business operations and supervises the executionof business operations.

ASKA Pharma Medical Co., Ltd.

Business Strategy Meeting of the GroupTo ensure the appropriateness of business operations, theCompany has established a supervisory department
responsible for managing subsidiaries in an integrated
manner. The Company also holds the Business Strategy
Meeting of the Group four times a year to share information.

Management Council
Management Council meetings are held basically once amonth to deliberate/make decisions on managementrelated issues, and to examine important issues including
management policies and strategies.

ASKA HD REPORT 2022

41

Foundation for Value Creation

 roup Nomination Committee and GroupG
Remuneration Committee

Outside Directors

The Group Nomination Committee and Group Remuneration
Committee have been established as advisory committees
independent from the Board of Directors in order to enhance
the fairness and objectivity of the deliberation process regarding
the nomination and compensation of officers.
Each committee is composed of a representative director, asenior managing member of the Board of Directors or higher
with special titles, and outside directors. The majority ofcommittee members are outside directors, and the committee ischaired by an outside director to ensure independence.

Auditing Structure
We have adopted a company with an Audit & Supervisory
Board structure in order to audit the execution of duties bymembers of the Board of Directors from a standpoint independentof the Board of Directors. The Audit & Supervisory Board, consistingof four members including two outside Audit & Supervisory Board
members, meets once a month in principle to discuss and resolve
important matters related to audits and to confirm matters to be
discussed at Board of Directors meetings in advance.
For external audits (including accounting audits), theCompany has concluded an audit and quarterly review contract
with Seiyo Audit Corporation as its accounting auditor.
For internal audits, we have established an Audit Department,
which conducts audits of Group companies from a fair andindependent standpoint. Furthermore, the Audit Department
evaluates the status of internal control systems regarding
financial reporting and its operation.

We appoint at least two independent outside directors to theBoard of Directors. They satisfy the Standards for the
Independence of Outside Officers and provide guidance andadvice to our management as appropriate utilizing their wealthof independent insight and knowledge.
Currently, we believe we have established an optimal
governance structure with three independent outside directors
as members of the Board of Directors.

ESG Committee
The ESG Committee has identified 17 material issues from theperspective of relevance to the Group’s business and social
contribution, and it has established a Company-wide action plan
and KPIs for each of them. In particular, we believe that
contribution to women’s health and contribution to animal
health are two material issues in which we can demonstrate ourSee pages 10-11 for details
strengths and originality.
In addition, we consider climate change issues to be one of
the management issues that affect our business, and we disclose
information on climate change in line with TCFD
recommendations.
As a company involved in life-related issues, and as a memberof society and the community, the Group broadly contributes tosociety by promoting ESG (environmental, social, and governance)
initiatives, thereby contributing to the achievement of the SDGs
(sustainable development goals).

Position

Medical /R&D /Sales /
Corporate
Legal / Risk
Pharmacy Finance /management Intellectual
property Marketing expertise Accounting management

Sustainability /ESG

Audit & Supervisory
Board Members

Members of the Board of Directors

TakashiPresident, Member of the Board of
Yamaguchi Directors, Representative Director
AtsushiMaruo

Senior Managing Member of the Board of
Directors, Representative Director

Fumiyoshi Member of the Board of Directors,
Yamaguchi Executive Corporate Officer
Member of the Board of Directors,
Outside Director

Michizo
Yamanaka

Member of the Board of Directors,
Outside Director

TsutomuHarinoMember of the Board of Directors,
Outside Director

Ikuo
KumanoAudit & Supervisory Board Member

Yuichiro
Fukui

Audit & Supervisory Board Member

Takao
KimuraOutside Audit & Supervisory Board
MemberKeiko
Fukuchi

Outside Audit & Supervisory Board
MemberNote: Indicates up to three skills in which the members of the Board of Directors and Audit & Supervisory Board members possess particularly high expertise and which
are expected of members of the Board of Directors and Audit & Supervisory Board members.

Policy for Selecting Members of the Board of Directors and Audit & Supervisory Board Members We select Board of Directors and Audit & Supervisory Board
members from among candidates who have excellent
character, insight, ability, and abundant experience, as wellas high ethical standards. New candidates for members of

42

ASKA HD REPORT 2022

FY2021
Number of Board Number of Audit
of Directors& Supervisory
meetings
Board meetings
attendedattended

Name

Reasons for nomination

Yasunori
Yoshimura

He has significant expertise and extensive experience as a medical scientist, and theCompany assessed that he can play an important role in the management of the Company
from an independent standpoint as an outside director of the Board of Directors.

17 out of 17(100%)—

Michizo
Yamanaka

He has a wealth of experience and insights as a corporate manager, and the Company
assessed that he can provide appropriate advice and supervision to the management of theCompany.

17 out of 17(100%)—

TsutomuHarinoHe has a wealth of experience as a corporate manager and extensive insights as amanagement consultant, and the Company assessed that he can provide appropriate advice
and supervision to the management of the Company.

17 out of 17(100%)—

17 out of 17(100%)

16 out of 16(100%)

17 out of 17(100%)

16 out of 16(100%)

Takao
KimuraKeiko
FukuchiNot only is he knowledgeable about drug development, but he also has extensive
experience in corporate management, and the Company assessed that he will be able toconduct appropriate audits of the Company’s Board of Directors from an objective andneutral standpoint.
The Company assessed that she can provide advice and recommendations to ensure the
propriety and appropriateness of decision-making by the Board of Directors, based on her
professional expertise, mainly regarding tax and finance, from a highly independent
standpoint as a tax accountant.

In FY2021, the Board of Directors met 17 times (16 regularmeetings and 1 extraordinary meeting). The members of theBoard of Directors and Audit & Supervisory Board members
attend both regular and extraordinary meetings of the Boardof Directors, where they make decisions on management
strategy policies and other important management matters,
and supervise the execution of business operations inaccordance with laws, the Articles of Incorporation, and theCompany’s related regulations.

Policies on Determining the Details of Compensation, etc.
for Each Individual Member of the Board of Directors

Member of the Board of Directors,
Executive Corporate Officer

Yasunori
YoshimuraReasons for Nomination of Outside Directors and Outside Audit & Supervisory Board Members

Each year, the Company conducts a questionnaire surveyof all members of the Board of Directors and Audit &Supervisory Board members in order to evaluate the current
status of the effectiveness of the Board of Directors and tofurther improve it. Based on the results of the questionnaire,
we have evaluated and analyzed the results and confirmedthat the Board of Directors is functioning properly and thatthe effectiveness of the Board of Directors as a whole has
been ensured.

Compensation for Members of the Board of Directors and Audit & Supervisory Board Members 

Sohta
Senior Managing Member of the Board of
Yamaguchi Directors, Representative Director
Maiko
Mori

accounting matters. In accordance with the above policy,
new candidates for Audit & Supervisory Board members shallbe selected by the Board of Directors with the approval of
the Audit & Supervisory Board after fair, transparent, andrigorous deliberations by the Group Nomination Committee.

Evaluations of the Effectiveness of the Board of Directors 

Skill Matrix
Name

Audit & Supervisory Board members are selected fromamong candidates who have appropriate experience, ability,and high ethical standards, as well as considerable
knowledge of financial, accounting, and legal matters. At
least one member must be well-versed in financial andthe Board of Directors are selected by the Board of Directors
in accordance with the above policy after fair, transparent,
and rigorous deliberations by the Group Nomination
Committee.

The Group Remuneration Committee deliberates on the
remuneration for members of the Board of Directors while
ensuring transparency, fairness, and objectivity. Design of the
remuneration system and the specific amount of remuneration
are determined by the Board of Directors.
Remuneration for members of the Board of Directors
excluding outside directors of the Board of Directors, shall be
designed to contribute to continued increases in corporate
value. Specifically, it shall consist of base salary as well as aperformance-based bonus serving as short-term incentive, and astock compensation system serving as medium- to long-term
incentive. In order to ensure fully functional supervision of the
management from an independent stance, remuneration foroutside directors of the Board of Directors shall consist of basesalary only, without short-term or medium- to long-term
incentive.
[Base salary]
Basic remuneration for members of the Board of Directors shallbe an annual base salary. Its amount shall be determined basedon position (rank), responsibilities, and term of office. It shall be
paid on a monthly basis.
[Performance-based bonus]
Performance-based bonus for members of the Board of Directors(excluding outside directors of the Board of Directors) shall be

paid at a certain time each year. The amount of bonus to be
paid to members of the Board of Directors with special titles
shall be determined by multiplying the annual base salary by abonus calculation coefficient defined for each position (rank)
and a payment coefficient based on the Company’s businessperformance (operating profit, etc.) for the previous fiscal year.
For members of the Board of Directors who also serve as
employees of the Company, the incentive provided shall becalculated by incorporating the performance-based bonus into
the bonuses provided to them as employees.
[Restricted stock compensation]
For the purpose of providing incentives to sustainably increase
the Company’s corporate value, as well as for the purpose offurther promoting shared value between the shareholders andmembers of the Board of Directors, restricted stock shall be
granted at a certain time each year within the scope of the
maximum amount and maximum number of shares approved at
the General Meeting of Shareholders. The number of shares ofrestricted stock to be granted to individual members of theBoard of Directors shall be determined in consideration of theirposition (rank), responsibilities, term of office, and other factors.

Policy on Determining the Proportion of Each Typeof Remuneration, etc.
Based on the belief that it is important for management towork with a medium- to long-term perspective, theASKA HD REPORT 2022

43

Foundation for Value Creation

proportion of base salary, performance-based bonus, andrestricted stock compensation shall be configured withemphasis on the level and stability of basic remuneration(base salary) with additional consideration of improvement insingle-year business performance and the pursuit ofshareholder interests.
The proportion of each type of remuneration for membersof the Board of Directors (excluding outside directors of theBoard of Directors) is not fixed because the amount of
remuneration is determined according to businessperformance in each fiscal year. However, the proportion ofbase salary, performance-based bonus, and restricted stockcompensation fits roughly in the following scope:
Base salary: performance-based bonus: restricted stockcompensation = 60-90%: 0-25%: 10-25%.

 otal Amount of Compensation, etc. by Officer Classification, Total Amount by Type of Compensation, etc.,Tand the Number of Target Officers in FY2021
Classification

Total amount ofcompensation, etc.
(Millions of yen)

Total amount by type of compensation, etc. (Millions of yen)
Base salary

Performancebased bonus

Restricted stockcompensation

Number of target officers(Persons)

Members of the Board of Directors(Outside Directors of the Board of Directors)

23
(23)

23
(23)

—
(—)

—
(—)

3
(3)

Audit & Supervisory Board Members(Outside Audit & Supervisory Board Members)

38
(9)

38
(9)

—
(—)

—
(—)

4
(2)

Total
(Outside Officers)

61
(33)

61
(33)

—
(—)

—
(—)

7
(5)

Notes:
1. The amount of compensation or the like for members of the Board of Directors does not include the portion of employee’s salary paid to members of the Board of
Directors who also serve as employees of the Company.
2. The number of target officers is the number of officers paid remuneration by the Company. In addition to the above, the total amount of compensation, etc. received
by six members of the Board of Directors of the Company from its subsidiary (ASKA Pharmaceutical Co., Ltd.) is ¥250 million. The total amount of compensation, etc.
received by two Audit & Supervisory Board members of the Company from its subsidiary (ASKA Pharmaceutical Co., Ltd.) is ¥3 million.
3. The performance index for performance-based remuneration, etc. is operating profit, which was ¥4,795 million for FY2021. This index was chosen because it is an
important indicator of achievement of management goals. Therefore, it was determined to be an appropriate index for performance-based remuneration. In addition,
the calculation method for performance-based remuneration is as described in “Policies on Determining the Details of Compensation, etc. for Each Individual Memberof the Board of Directors.”
4. Non-monetary remuneration, etc. is in the form of Company shares, and the requirements for their allocation are as described in “Policies on Determining the Details
of Compensation, etc. for Each Individual Member of the Board of Directors.” The number of shares granted during FY2021 was 29,100 shares to three members of
the Board of Directors who concurrently serve as members of the Board of Directors of ASKA Pharmaceutical Co., Ltd.
5. Based on the resolution of the Extraordinary General Meeting of Shareholders held on June 24, 2021, the upper limit on compensation for members of the Board of
Directors was set at ¥500 million per year (including ¥70 million for outside directors of the Board of Directors and excluding the portion of employee salary paid tomembers of the Board of Directors who also serve as employees of the Company). The number of Board of Directors members at the end of the Extraordinary General
Meeting of Shareholders was 6 (including 3 outside directors of the Board of Directors). Separate from this compensation, the upper limit on restricted stockcompensation was set at ¥100 million per year based on the resolution of the Extraordinary General Meeting of Shareholders held on June 24, 2021. The number ofBoard of Directors members at the end of the Extraordinary General Meeting of Shareholders was 3 (excluding the outside directors of the Board of Directors).
6. Based on the resolution of the Extraordinary General Meeting of Shareholders held on June 24, 2021, the upper limit on compensation for Audit & Supervisory Board
members was set at ¥150 million per year. The number of Audit & Supervisory Board members at the end of the Extraordinary General Meeting of Shareholders was 4.

Compliance Basic Principles
We have established a department to promote and supportcompliance within each Group company and developed thenecessary internal systems, and rules and regulations. The
structure we have created facilitates the prompt handling ofcases, the formulation of measures to prevent violations, andother measures. This means that officers and employees canengage in corporate activities with peace of mind.
To increase awareness of compliance of employees of theGroup, we are conducting compliance education for each job
level while working to grasp the level of employee awarenessthrough questionnaire surveys and identify points for
improvement. In FY2021, we conducted interviews with eachdepartment of the Group based on the results of the complianceawareness survey and worked for more thorough compliance bygaining a greater understanding of the current situation,
identifying problems, and conducting training and problem
solving based on actual conditions. The Group Compliance
Promotion Committee has been established to supervise theGroup’s efforts toward recognizing and responding to risks that
could have a significant impact on Group management andpromoting a compliance system that thoroughly complies withlaws and corporate ethics.

44

ASKA HD REPORT 2022

• Group Compliance Promotion StructureGroup Compliance Manager

Representative director orsenior member of theBoard of Directors

Group Compliance
Promotion Officer

Members of the Board of Directors(corporate officers) who have been
appointed within each company, reportingto the Group Compliance Manager

Whistle-blower System
As a system to reflect the voices of employees in compliancepractice, we have established a whistle-blower office, the ASKA
Pharmaceutical Holdings’ compliance consulting desk, and havepromoted awareness of the desk through education and training
programs.
In addition to the internal and external contact points thathave been in place for some time, we have established a newcontact point for consultation and reporting of compliancerelated matters involving officers of the Group. It is staffed by
ASKA Pharmaceutical Holdings’ Audit & Supervisory Board
members (Audit & Supervisory Board member consulting desk).
This contact point, which is independent from senior
management, is intended to lower the psychological hurdle for

officers and employees for consultation and reporting ofcompliance-related matters involving senior management, andto ensure that investigations and corrective measures are carriedout in a timely and appropriate manner. Reporting can be alsodone anonymously, and all cases are handled appropriately.
Through this system, we will ensure that whistle-blowers areprotected and that compliance-related matters are reported,
investigated, and corrective measures are taken in a timely andappropriate manner, in accordance with the spirit of the
Whistleblower Protection Act.

Moreover, we are promoting the globalization of ourintellectual property activities, and have established a systemthat enables us to collect and utilize intellectual property
information overseas, and are working to strengthen cooperation
with our partner companies in terms of intellectual property.
With the growing importance of intellectual property, we willfurther contribute to our business growth through these efforts.

• ASKA Pharmaceutical Holdings
Structure of the Compliance Consulting Desks

With the recognition that ASKA’s corporate activities related toprescription pharmaceuticals are conducted under the public
medical insurance system, we are fulfilling our accountability tosociety by ensuring transparency in the provision of funds to
medical professionals, medical institutions, patient groups, andothers. In accordance with the Transparency Guideline for theRelationship between Corporate Activities and Medical
Institutions and Transparency Guideline for the Relationshipbetween Corporate Activities and Patient Groups, we willcontinue with FY2022 disclosure of information on FY2021’s
provision of funds to medical professionals, medical institutions,and patient organizations.
In addition, the Guidelines for Provision of Sales Information
on Prescription Drugs (the “Guidelines”) were established by the
Ministry of Health, Labour and Welfare to promote the properuse of prescription pharmaceuticals. They are aimed atpreventing inappropriate promotional activities (such asrecommending off-label use, slandering other companies, andproviding misleading information on efficacy and safety). In
addition, from 2019 the Guidelines made it the responsibility ofmanagement to establish the internal systems necessary for
appropriate sales information provision activities and to educate
employees. In FY2021, the department supervising sales
information provision activities, as the lead department,
reviewed materials used by medical representatives (MRs) toensure that they are properly prepared, and also checked thepromotional activities of MRs and others, and with regard to the
behaviors that could have been taken as a violation of the
Guidelines, the information was shared with the parties
concerned as well as the relevant promotion department to raiseawareness and prevent violations. In addition, we continuously
remind MRs and others of the importance of compliance with
the Guidelines and other industry-related norms during training
sessions.
As a life-related company, we will continue to work to further
improve our ethics, transparency, and credibility while
conducting activities to deepen the understanding of medical
institutions and medical professionals.

Group Compliance Promotion Committee(Chairman = Group Compliance Manager)

External
consulting deskInternal
consulting desk

Attorney

Legal Affairs &Regulatory ComplianceDepartment(Group Compliance
Secretariat)

Audit & Supervisory
Board member
consulting desk*
Audit & Supervisory
Board members of
ASKA Pharmaceutical
Holdings

Whistle-blower* Contact point for consultation and reporting of compliance-related
matters involving officers of the Group

Code of Practice
As a responsible life-related company that handles pharmaceuticals,
ASKA Pharmaceutical recognizes the need to ensure a high levelof ethics and transparency in its corporate activities. Based on
this recognition, in FY2013 we established the ASKA
Pharmaceutical Code of Practice as a code of conduct for all
officers and employees and their interactions with researchers,
medical professionals, patient groups, etc., and we are
implementing corporate activities that can be understood bysociety by ensuring that all officers and employees are fully
aware of the code.

Intellectual Property
Intellectual property rights include patent rights, utility modelrights, design rights, and trademark rights, which protect
creations through intellectual creative activities. We respect therights of third parties and cooperate with relevant departments
to formalize and protect intellectual property rights throughout
the Company. In addition to protecting rights related to newly
developed products, we maximize value by utilizing intellectual
property rights to extend the life cycle of existing products,
including new dosage formulations.

Initiatives of the Group in Industry-related Norms(Transparency Guidelines, Guidelines for Sales
Information Provision Activities, etc.)

Risk Management Basic Policy
In order to deal with risks that may affect the business activitiesof the Group, we have established the Group Business Risk
Management Rules and are implementing a risk management
system with classifications based on characteristics and risks.
Each department prepares and operates procedure manuals andsystematically works to resolve issues through annual risk
assessments and the formulation, implementation, andevaluation of countermeasures based on the results of those
assessments.

Business Continuity Plan (BCP)
In order to ensure a stable supply of pharmaceuticals and otherproducts, we have formulated a BCP for natural disasters suchas large-scale earthquakes and tsunamis, and are working toensure a system that will enable the early restoration of ourbusiness activities. In addition, to minimize the impact of the
COVID-19 pandemic on our business activities, we haveestablished a task force and implemented measures including
the promotion of telecommuting in accordance with preventive
measures guidelines. Going forward, we will continue toenhance our preparedness for anticipated risks, conduct
employee awareness activities, and further improve our crisis
management system.

ASKA HD REPORT 2022

45

Foundation for Value Creation

Board Members and Corporate Officers (As of June 28, 2022)
Members of the Board of Directors

8

Audit & Supervisory Board Members

7

11

6

12

4
2

5

3

10

9

1

46

President, Member of the Board of Directors,
Representative Director

Senior Managing Member of the Board of
Directors, Representative Director

Senior Managing Member of the Board of
Directors, Representative Director

Takashi Yamaguchi 1

Atsushi Maruo 2

Sohta Yamaguchi 3

Apr. 1978	Joined Teikoku Hormone Mfg. Co., Ltd. (currently
ASKA Pharmaceutical Co., Ltd.)
Dec. 1987	Member of the Board of Directors of Teikoku
Hormone Mfg. Co., Ltd.
Jun. 1991	President, Member of the Board of Directors,
Representative Director of Teikoku Hormone Mfg.
Co., Ltd.
Apr. 2021	President, Member of the Board of Directors,
Representative Director of the Company (toPresent)
Jun. 2021	Member of the Board of Directors, Representative
Director, Chairman of the Board of ASKA
Pharmaceutical Co., Ltd. (to Present)

Apr. 1981	Joined The Mitsubishi Bank, Ltd. (currently MUFG
Bank, Ltd.)
Apr. 2009	Tohoku Region Manager and Sendai Branch Managerof The Mitsubishi Bank, Ltd.
Oct. 2010	Corporate Officer of ASKA Pharmaceutical Co., Ltd.
Jun. 2011	Member of the Board of Directors, Executive
Corporate Officer of ASKA Pharmaceutical Co., Ltd.
Jun. 2014	Senior Managing Member of the Board of Directors of
ASKA Pharmaceutical Co., Ltd.
Jun. 2015	Member of the Board of Directors of ASKA Pharma
Medical Co., Ltd.
		Member of the Board of Directors of ASKA Animal
Health Co., Ltd.
Jun. 2019	Senior Managing Member of the Board of Directors,
Representative Director of ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors of the Company
Jun. 2021	Senior Managing Member of the Board of Directors,
Representative Director of the Company (to Present)		Member of the Board of Directors, Vice Chairman of
the Board of ASKA Pharmaceutical Co., Ltd. (to Present)

Apr. 2008	Joined Hitachi, Ltd.
May. 2011	Registered as a patent attorney
Feb. 2016	Joined ASKA Pharmaceutical Co., Ltd.
Jun. 2017	Member of the Board of Directors, Executive
Corporate Officer, in charge of Innovative Drug
Discovery of ASKA Pharmaceutical Co., Ltd.
Jun. 2019	Managing Member of the Board of Directors, incharge of Innovative Drug Discovery, Development,
and Business Strategy of ASKA PharmaceuticalCo., Ltd.
Apr. 2020	Managing Member of the Board of Directors, incharge of Innovative Drug Discovery, Development,
Business Development, and Medical Affairs of
ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors of the Company
Jun. 2021	Senior Managing Member of the Board of Directors,
Representative Director of the Company (to Present)		President, Member of the Board of Directors,
Representative Director of ASKA PharmaceuticalCo., Ltd. (to Present)

Apr. 1982	Joined Teikoku Hormone Mfg. Co., Ltd. (currently ASKA Pharmaceutical Co., Ltd.)
Jun. 2005	Director of Sales Planning Promotion Department of Teikoku Hormone Mfg. Co., Ltd.
Apr. 2006	Chugoku Branch Manager of ASKA Pharmaceutical Co., Ltd.
Oct. 2007	Fukuoka Branch Manager of ASKA Pharmaceutical Co., Ltd.
Apr. 2012	Director of Corporate Planning Unit of ASKA Pharmaceutical Co., Ltd.
Jun. 2014	Corporate Officer, in charge of Corporate Planning of ASKA Pharmaceutical Co., Ltd.
Apr. 2015	Corporate Officer of ASKA Pharmaceutical Co., Ltd.
		President and Representative Director of ASKA Pharma Medical Co., Ltd.
Jun. 2016	Corporate Officer, Division Director of Production Division of ASKA PharmaceuticalCo., Ltd.
Jun. 2018	Member of the Board of Directors, Executive Corporate Officer, in charge of
Production, Division Director of Administrative Division of ASKA PharmaceuticalCo., Ltd.
Jun. 2019	Member of the Board of Directors, Executive Corporate Officer, Division Directorof Administrative Division and Director of 100th Anniversary Business Unit of
ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors of the Company
Jun. 2021	Audit & Supervisory Board Member of the Company (to Present)		Audit & Supervisory Board Member of ASKA Animal Health Co., Ltd. (to Present)

Member of the Board of Directors, Executive
Corporate Officer

Member of the Board of Directors, Executive
Corporate Officer

Member of the Board of Directors(Outside Director)

Outside Audit & Supervisory Board Member

Outside Audit & Supervisory Board Member

Maiko Mori 4

Fumiyoshi Yamaguchi 5

Yasunori Yoshimura 6

Takao Kimura 11

Keiko Fukuchi 12

Apr. 1987	Joined Teikoku Hormone Mfg. Co., Ltd. (currently
ASKA Pharmaceutical Co., Ltd.)
Jun. 2011	Director of Pharmaceutical Information
Department of ASKA Pharmaceutical Co., Ltd.
Jul. 2017	Director of Pharmaceutical Affairs Department of
ASKA Pharmaceutical Co., Ltd.
Apr. 2020	Division Director of Quality & Safety Assurance
Division of ASKA Pharmaceutical Co., Ltd.
Jun. 2020	Corporate Officer, Division Director of Quality &Safety Assurance Division of ASKA PharmaceuticalCo., Ltd.
Jun. 2022	Member of the Board of Directors, Executive
Corporate Officer, Division Director of Quality &Safety Assurance Division of ASKA PharmaceuticalCo., Ltd. (to Present)		Member of the Board of Directors, Executive
Corporate Officer of the Company (to Present)

Jul. 2011	Joined ASKA Pharmaceutical Co., Ltd.
Apr. 2019	Corporate Officer, in charge of New Business
Development and Assistant Director of Healthcare
Business Unit of ASKA Pharmaceutical Co., Ltd.
Jun. 2020	Corporate Officer, in charge of Special Appointmentsof ASKA Pharmaceutical Co., Ltd.
		Member of the Board of Directors of ASKA Animal
Health Co., Ltd.
Jan. 2021	President, Member of the Board of Directors,
Representative Director of ASKA Animal Health Co.,
Ltd. (to Present)
Jun. 2021	Corporate Officer of the Company
Jun. 2022	Member of the Board of Directors, Executive
Corporate Officer of the Company (to Present)

Nov. 1975	Joined Hoechst Japan Ltd. (currently Sanofi K.K.)
Jul. 2000	President and Representative Director of Nycomed Amersham PLC
Dec. 2002	Executive Officer, General Manager of Business Development Division of Aventis
Pharma Limited (currently Sanofi K.K.)
Apr. 2010	Executive Officer, Supervising Manager of Business Development Division in
Asia-Pacific Region of sanofi-aventis K.K. (currently Sanofi K.K.)
Feb. 2016	Representative Partner of TK Pharma Partners LLC. (to Present)
Jun. 2017	Outside Audit & Supervisory Board Member of ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Outside Audit & Supervisory Board Member of the Company (to Present)

Apr. 1981	Joined Tokyo Regional Taxation Bureau
Jul. 2006	Deputy District Director of Shibuya Tax Office
Jul. 2008	Professor of National Tax College
Jul. 2013	Director (Mutual Agreement Procedures), International Operations Division,Commissioner’s Secretariat of National Tax Agency
Mar. 2018	Regional Commissioner of Kanazawa Regional Taxation Bureau
Aug. 2019	Registered as a tax accountant. Representative of Fukuchi Keiko Tax Accountant
Office (to Present)
Jun. 2020	Outside Audit & Supervisory Board Member of ASKA Pharmaceutical Co., Ltd.
		Outside Director (Audit and Supervisory Committee Member) of KAWADATECHNOLOGIES, INC. (to Present)		Outside Auditor of KAWADA INDUSTRIES, INC. (to Present)
Apr. 2021	Outside Audit & Supervisory Board Member of the Company (to Present)

Member of the Board of Directors(Outside Director)

Member of the Board of Directors(Outside Director)

Michizo Yamanaka 7

Tsutomu Harino 8

Apr. 1975	Joined the Department of Obstetrics andGynecology, Keio University School of Medicine
Nov. 1995	Professor of the Department of Obstetrics andGynecology, Keio University School of Medicine
Apr. 2007	Chairperson of Japan Society of Obstetrics andGynecology
Jun. 2011 Member of the Board of Directors, Outside
Director of ASKA Pharmaceutical Co., Ltd.
Oct. 2012	Representative Director of YOSHIMURA BIOETHIC
INSTITUTE (to Present)
Nov. 2013	Outside Audit & Supervisory Board Member of
Don Quijote Holdings Co., Ltd. (currently Pan
Pacific International Holdings Corporation)
Apr. 2014	Professor Emeritus of Keio University (to Present)
Jul. 2015	Vice President of Fukushima Medical University
Sep. 2015	Outside Board Member (Audit & Supervisory
Committee Member) of Don Quijote Holdings
Co., Ltd. (currently Pan Pacific International
Holdings Corporation) (to Present)
Apr. 2021	Member of the Board of Directors, Outside
Director of the Company (to Present)

Apr. 1975	Joined Hitachi, Ltd.
Aug. 1978	Director and Design Manager of THE YOSHIDADENTAL MFG. CO., LTD.
Jun. 1992	President and CEO of THE YOSHIDA DENTAL
MFG. CO., LTD. (to Present)
Jan. 2006	President and CEO of YOSHIDA SEIKO., LTD. (toPresent)
Sep. 2012	Vice Chairman of YOSHIDA DENTAL TRADE
DISTRIBUTION. CO., LTD. (to Present)
Jun. 2017	Member of the Board of Directors, Outside
Director of ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors, Outside
Director of the Company (to Present)

Apr. 1976	Joined Sonton Foods Industry Co., Ltd.
Nov. 1979	Joined Tamanoi Co., Ltd. (currently Tamanoi Vinegar
Co., Ltd.)
Apr. 1980	Assigned to work in Japan Productivity Center, aPublic Interest Incorporated Foundation
Jul. 1991	President and Representative Director of Tamanoi Co.,
Ltd. (currently Tamanoi Vinegar Co., Ltd.) (to Present)
Aug. 2000	President and Representative Director of Tamanoi
vinegar kurosumate Co., Inc. (to Present)
Jun. 2019	Member of the Board of Directors, Outside Director of
ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors, Outside Director of
the Company (to Present)

ASKA HD REPORT 2022

Audit & Supervisory Board Member

Audit & Supervisory Board Member

Ikuo Kumano

Yuichiro Fukui 10

9Apr. 1984	Joined Takeda Pharmaceutical Company Limited
Apr. 2009	Director of Eastern Japan Sales Unit of Pharmaceutical Marketing Division of
Takeda Pharmaceutical Company Limited
Jun. 2015	Executive Corporate Officer of ASKA Pharmaceutical Co., Ltd.
Jun. 2016	Member of the Board of Directors, Executive Corporate Officer, supervising SalesManagement, Division Director of Marketing Division of ASKA PharmaceuticalCo., Ltd.
Apr. 2017	Member of the Board of Directors, Executive Corporate Officer, supervising SalesManagement of ASKA Pharmaceutical Co., Ltd.
Apr. 2021	Member of the Board of Directors of the Company
Jun. 2021	Audit & Supervisory Board Member of the Company (to Present)		Audit & Supervisory Board Member of ASKA Pharmaceutical Co., Ltd. (to Present)

Corporate Officers

Kazuhiko Kato

Kiyohiko Tamura

Kunihiro Gunji

Junichi Saito

Senior Executive Corporate Officer

Executive Corporate Officer

Corporate Officer

Corporate Officer

In charge of New Business
Development

Division Director , Group
Business Management Division

In charge of Audit andLegal Affairs & Regulatory
Compliance

President , Member of the Boardof Directors , Representative
Director of ASKA Pharma
Medical Co ., Ltd .

ASKA HD REPORT 2022

47

Data Section

10-Year Summary of Consolidated Financial Results
Fiscal years ended/As of March 31, 2013 (FY2012) to March 31, 2022 (FY2021)

FY2021

FY2020FY2019FY2018FY2017FY2016FY2015FY2014FY2013

FY201256,60730,25555,181
29,79821,773
3,609
3,092
2,713
4,709
765
3,305

52,542
28,52522,509
1,507
1,715
649
4,913
2,040
3,669

46,706
27,814
17,107
1,782
1,980
1,744
4,493
2,994
2,491

48,94430,05916,060
2,824
3,073
2,388
4,055
1,443
2,324

48,527
29,614
17,119
1,793
2,002
2,944
4,970
772
2,447

43,21526,072
15,861*3
1,283*4
1,522
701
4,174
2,279
1,969

42,90725,717
15,767
1,425
1,722
1,193
4,025
2,285
1,709

39,501
22,431
16,353
716
1,031
495
4,144
2,047
2,355

40,96323,047
16,847
1,061
1,336
1,114
4,269
937
2,353

83,29748,892
14,046

82,58244,51080,23941,57382,19443,456

66,23542,55966,126
39,511

57,47835,96158,93336,57751,26933,941

51,77033,35016,395

16,41916,468

2,950

3,700

5,708

1,366

1,557

1,782

2,842
6,743
(2,996)
17,1036,541(2,866)(455)
10,514(492)(2,927)
(392)
7,294

2,504
(14,780)
13,036
11,10776

12,063(3,348)(1,142)
10,346(378)(2,384)
14,761(1,349)(6,776)
4,013
5,462

5,710
(1,897)
(557)
9,574

2,616
(2,301)
(574)
6,318

3,869
(1,484)124
6,578

151.22
1,734.80
15

95.72
1,568.89
14

22.96
1,467.58
17*2

61.81
1,538.75
14

84.80
1,509.70
14105.391,413.51
14

25.15
1,287.76
14

42.89
1,313.20
14

17.85
1,219.32
14

40.27
1,202.59
14

53.4
38.1
8.5
58.7
8.8
5.9
5.3*1

54.0
39.5
6.5
53.9
6.3
3.8
14.6

54.3
42.8
2.9
51.8
1.5
2.1
74.0

59.6
36.6
3.8
52.9
4.1
2.7
22.7

61.4
32.8
5.8
64.3
5.8
4.6
16.5

61.0
35.3
3.7
59.8
7.8
3.2
13.3

60.3
36.7
3.0
62.6
1.9
2.6
55.7

59.9
36.7
3.3
62.1
3.4
3.1
32.6

56.8
41.4
1.8
66.1
1.5
2.0
78.4

56.3
41.1
2.6
64.4
3.4
2.6
34.8

777
30,563800
30,563807
30,563842
30,563856
30,563862
30,563872
30,563862
30,563886
30,563897
30,563

Consolidated Financial Results (Millions of yen)
Net sales
Cost of sales
Selling, general and administrative expenses
Operating profit
Ordinary profit
Profit attributable to owners of parent
R&D expenses
Capital expenditures (Property, plant and equipment and software incorporation basis)
Depreciation

21,556
4,795
4,880
4,290
3,598
657
2,885

Consolidated Financial Position (Millions of yen)
Total assets
Net assets
Interest-bearing debt
Consolidated Cash Flows (Millions of yen)
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Per-share Data (Yen)
Earnings per share
Net assets per share
Dividends per share
Financial Ratios (%)
Cost of sales ratio
Selling, general and administrative expenses ratio
Operating profit margin
Equity ratio
Profit attributable to owners of parent/Equity (ROE)
Ordinary profit / Total assets (ROA)
Dividend payout ratio
Non-financial Information
Number of employees
Number of issued shares (Thousands)

Notes:
Figures up to FY2020 are the figures announced by ASKA Pharmaceutical Co., Ltd.
*1 Interim dividends are dividends from other capital surplus and are excluded from the dividend payout ratio.
*2 100th anniversary commemorative dividend of ¥3 per share.
*3 Due to a change in presentation, Selling, general and administrative expenses for FY2015 were adjusted from ¥15,978 million to ¥15,861 million.
*4 Due to a change in presentation, Operating profit for FY2015 was adjusted from ¥1,166 million to ¥1,283 million.

48

ASKA HD REPORT 2022

ASKA HD REPORT 2022

49

Data Section

ASKA Pharmaceutical Holdings’ Information Disclosure

Company Information/Shareholder Information(As of March 31, 2022)

Information Disclosure

Company Information• Information Disclosure Policy
The Group conducts corporate communication activities based ontransparency, fairness, and continuity in order to deepen mutual
understanding with our stakeholders, including shareholders,investors, patients and their families, medical professionals, local
communities, alliance partners, and employees, and to earn thetrust of society.
We disclose information in accordance with the Financial
Instruments and Exchange Act and the Timely Disclosure Rules
stipulated by Tokyo Stock Exchange, Inc. We actively disclose
information that we believe is useful for understanding theGroup, such as management strategies, business performance,
financial conditions, and capital policies. We also disclose
information in English, which is in high demand from overseas
investors. In addition, we hold briefings for analysts andinstitutional investors after the announcement of financial results
for the second and fourth quarters of the fiscal year, and, in orderto promote constructive dialogue with shareholders, institutional
investors, and individual investors, the officer in charge oversees
all aspects of dialogue and works to enhance the channels for
dialogue.
To ensure fairness in the disclosure of information, the period
from the business day following the date of settlement ofaccounts to the date of announcement of financial results is aquiet period, during which we refrain from commenting on or

responding to inquiries regarding financial results and forecasts.
We also strive to prevent information leaks and appropriately
manage insider information.

• Information Subject to Disclosure
Disclosure basedon the Financial
Instruments andExchange Act

Annual securities reports, quarterly
securities reports, internal control reports,
extraordinary reports, etc.

Disclosure based on
Business reports, financial statements,
the Companies Act
consolidated financial statements, etc.
of Japan
Disclosure requiredby Tokyo Stock
Exchange, Inc.

Information for timely disclosure, factual
information on decisions and occurrences
required to be disclosed in a timely
fashion by the Tokyo Stock Exchange,
corporate governance reports, etc.

Company name

ASKA Pharmaceutical Holdings Co., Ltd.

FoundedApril 1, 2021

Capital¥1,197.9 million

Number of employees

777 (Consolidated)

Representative

Takashi Yamaguchi
President, Member of the Board of Directors, Representative Director

Address

5-1 Shibaura 2-chome, Minato-ku, Tokyo 108-8532

Businesses

Business management of Group companies and related operations

Group companies

ASKA Pharmaceutical Co., Ltd.
ASKA Animal Health Co., Ltd.
ASKA Pharma Medical Co., Ltd.

• Other Information Disclosure
Financial results presentation materials,
IR-related disclosure
supplementary documents of financial
materials
results, etc.
IR-related
publications

Equity-method affiliates	Ha Tay Pharmaceutical Joint Stock Company (Vietnam)
Japan Glass Industry Co., Ltd.
One other company

Shareholder newsletters, integrated
reports, etc.

Shareholder Information

Websites• Status of Shares

IR Site (Shareholders and Investors)

Health Lab Mint+ for Women’s health (Japanese only)

https://www.aska-pharma-hd.co.jp/english/invest/

https://www.aska-pharma.co.jp/mint/• Top 10 Shareholders
Number of Shareholders

Name of shareholder

30,563,199

8,679

The Master Trust Bank of Japan,
Ltd. (Trust Account)

3,240

11.47

Takeda Pharmaceutical Company
Limited

2,204

7.80

Zeria Pharmaceutical Co., Ltd.

1,798

6.36

MUFG Bank, Ltd.

1,100

3.89

Takashi Yamaguchi

882

3.12

Custody Bank of Japan, Ltd.
(Trust Account)

822

2.91

Kabushiki Kaisha YAMAGUCHI

579

2.05

Aioi Nissay Dowa Insurance Co.,
Ltd.

530

1.87

Nippon Life Insurance Company

522

1.85

The Toa Reinsurance Company,
Limited500

1.77• Distribution of Shares
Individuals and other
8,433 shareholders
7,403 thousand shares(24.2%)

ASKA Pharmaceutical Co., Ltd.

ASKA Animal Health Co., Ltd. (Japanese only)

ASKA Pharma Medical Co., Ltd. (Japanese only)

https://www.aska-pharma.co.jp/english/

https://www.aska-animal.co.jp/

https://www.ap-med.co.jp/

Treasury stock
1 shareholder
2,321 thousand shares(7.6%)

Financial institutions

Total
30,563,199

23 shareholders
8,724 thousand shares(28.5%)

shares8,679

shareholders
Foreign corporations
127 shareholders
3,712 thousand shares(12.1%)

External Evaluation Related to ESG

FTSE Blossom Japan Sector
Relative Index

S&P/JPX Carbon
Efficient Index

Financial instruments
firms
Other corporations
66 shareholders
7,849 thousand shares(25.6%)

29 shareholders
552 thousand shares(1.8%)

Note: T he total does not add up to 100% because shareholdings are rounded
down to the nearest thousand.

50

ASKA HD REPORT 2022

Number of shares Percentage ofheld (thousands) shares held (%)

Shares Issued

Notes:
1. T he Company holds 2,321,356 shares as treasury stock, which are notincluded in the list of major shareholders.
2. S hareholding ratio is based on the number of shares less treasury shares(2,321,356 shares).
3. T reasury shares (2,321,356 shares) do not include 58,500 shares held by
The Master Trust Bank of Japan (Employee Stockholding ESOP Trust
Account No. 76,361).
ASKA HD REPORT 2022

51

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October 2022