In pursuant to Santen's Value, we are committed to enhancing our corporate value as a company contributing to the health of the eyes and bodies of people all over the world. To fulfill this mission, however, we must comply with the statutory requirements of each country, and act in accordance with the highest ethical standards and social norms.
With this view, we are committed to building an effective corporate governance system that ensures management transparency and objectivity, while at the same time working to improve our business performance.
In addition to various statutory functions, the board of directors formulates management policies, strategies, and business plans for the Santen Group. The board of directors makes decisions relating to the acquisition or disposal of major financial assets and important organizational or personnel-related matters, as well as oversees the conduct of business at Santen and its subsidiaries. To further strengthen the corporate governance system by improving management transparency and objectivity, Santen has established three deliberative committees comprising inside and outside directors. In addition, we have adopted a corporate officers' system to reinforce the management of, and improve the speed of business operations.
Santen has adopted a governance system using corporate auditors. Santen will continue to further heighten the effectiveness and efficiency of this auditing system in collaboration with internal audit divisions. The board of corporate auditors consists of four members, including outside auditors. Corporate auditors formulate auditing policies and plans as well as attend meetings of the board of directors and other important meetings. In addition, corporate auditors oversee the execution of duties by directors through auditing the operational and financial status of Santen's headquarters, major operating sites, and subsidiaries.