Medium-term Management Plan

To maximize the value of our contribution to consumers and patients in our prescription pharmaceuticals business, which is one of our strengths, we are pursuing transformation based on a more robust strategy and organizational management policy.

As a specialized company dedicated to eye health, we believe that Santen can deliver novel and significant value to patients through our products and services, and change eye care for the better.
We will focus on maximizing the value of our contribution to patients and consumers in the prescription pharmaceuticals business, where we can demonstrate our unique strengths. By providing solutions that eliminate bottlenecks in the diagnosis and treatment of eye diseases, we will transform the treatment flow and contribute to the realization of better eye care. In addition, we will shift our organizational management policies, structures and processes to enhance our operational excellence and achieve a high level of strategy execution.

FY2023-2025 New Medium-Term Management Plan

1.Objectives of new Medium-Term Management Plan

Santen will focus on maximizing its strength in the prescription pharmaceuticals business. The company will fundamentally review its strategy and organization to maximize its people and patient-value contribution in the prescription pharmaceutical business.

2.Basic policy for growth

Until FY2025, Santen will maximize earnings centered on two axes: structural reforms and maximizing regional sales. The company will boost sales based on a clear regional strategy and strengthen commercial excellence on a global basis. Santen will work on business development to maximize sales of each regional business and new businesses that can generate synergies with the prescription pharmaceuticals business. From FY2026 onward, Santen will leverage its revamped organizational capabilities to provide new value contribution to people and patients from its large-scale pipelines, including myopia and ptosis, and enter a new growth phase. In addition to strengthening the leadership team which takes a key role in strategy planning and execution, Santen will revamp its operational model and the business administration management and human resources development systems that support it so that the entire company can work together to ensure the execution of the medium-term management plan.

■Promoting structural reforms
Maximize streamlining of Americas: Optimize based on current situation of continued ongoing losses and pipelines
Investment review based on financial discipline: Scrutinize investments by carefully examining IT and other large-scale investments
Cost optimization: Control costs by means of "zero-based" budgeting
Productivity improvement: Review the productivity of each organizational function

■Maximizing regional sales through three pillars
・Strengthen Commercial Excellence on a global basis
・Develop business which maximizes sales of each regional business (including products marketed by other companies and regional products)
・Cultivate new businesses that contributes to maximizing sales in prescription pharmaceuticals business

■Generate sales in new areas by launching large-scale pipelines (FY2026~)
・Create new value contribution opportunities through out-of-pocket treatments such as myopia and ptosis
・Sufficiently invest in R&D and business development to drive development and explore new pipelines

3.FY2025 company-wide numerical targets and Key Performance Indicators (KPIs)

Santen is committed to steady improvement in profitability, including growth in overseas revenue per employee, and delivering stable dividends


RevenueJPY 280.0 billion
Core operating profitJPY 56.0 billion
Core operating profit margin20%
Revenue growth ratio per overseas employee
(excluding FX impact)
Growth of over 7%
(CAGR for FY22 FCST -FY25)
Core ROE13%
Core EPS Growth Rate over 10%
(CAGR for FY22 FCST -FY25)
Shareholder ReturnsGoal to increase annual dividend with the current JPY 32 as the minimum and conduct opportunistic share buybacks as capital adjustment

4.Capital allocation and shareholder return

Santen will build a highly profitable structure, strengthen its ability to generate cash flow and invest for future growth, giving priority to R&D and business development.

Regarding shareholder returns, Santen will set the annual dividend at the lower limit of JPY 32 and while taking into consideration investment opportunities and the share price situation, will flexibly return profits through opportunistic share buybacks.

5.Environmental, Social and Governance (ESG) Initiatives

Environmental, Social and Governance (ESG) initiatives are an integral part of our organization. The cornerstone of Santen's sustainability management is to reduce eye-related concerns for people around the world.
Santen has identified 13 ESG materialities as key management issues: 

1) Market Penetration of Products with Social Significance 2) Evaluation and Management of the Supply Chain 3) Assurance of Quality and Safety, and Establishment of an Appropriate Supply System 4) Providing Appropriate Information on Products and Services 5) Promoting Diversity, Equity & Inclusion6) Building a High-Value-Added and Highly Productive Work Environment 7) Human Resource Development and Promotion 8) Corporate Governance 9) Compliance 10) Risk Management 11) Respect for Human Rights 12) Measures against Climate Change 13) Environmental Load Reduction

Of the above materialities, Santen has identified “Market Penetration of Products with Social Significance”, which will lead to the realization of the medium-term management plan and future sustainable growth, and “Human Resource Development and Promotion” which will support and drive business growth, as the most important issues to address. We will continue to strengthen these efforts.

Materials for FY2023-2025 New Medium-Term Management Plan