September 4, 2023, Osaka, Japan – Santen Pharmaceutical Co., Ltd. (hereinafter, Santen) announced today that it has decided to implement the Early Retirement Program (hereinafter, the Program).
Under the New Medium-Term Management Plan announced in April of this year, Santen has been conducting a fundamental revision of its strategic and organizational management policies with the aim of maximizing the value of its contribution to consumers and patients in the prescription pharmaceuticals business, where Santen can demonstrate its unique strengths in ophthalmic care. Until FY2025, Santen is working to maximize sales and profit based on its two basic policies for growth: "improving profitability through structural reforms " and "maximizing sales in each regional business.”
At the same time, Santen is working to transform its organizational structure and systems to support its growth strategy. The company aims to enhance its competitiveness and profitability through various reforms to fulfill its mission of promoting eye health of patients and consumers as a company specializing in eye health. In July, Santen established a new executive management structure to enable quick and effective decision making and execution to achieve the new Medium-Term Management Plan. Santen is also redefining the responsibilities and capabilities required for each organization and function and reviewing the appropriate placement of the right personnel for future company growth.”
Even in the midst of a drastically changing business environment, Santen will continue to strengthen its organization and human resources to ensure the execution of its strategy to develop and promote solutions that eliminate eye care bottlenecks. In light of these management directions for change and the fact that the career perspectives and work styles of each individual are diversifying today, Santen has decided to implement this program to support employees who choose other career opportunities based on their own life career plans during the company's period of transformation.
2. Details of the program
(1) Eligible employees
Employees of Santen Pharmaceutical Co., Ltd. (Japan) who are aged 50 or over as of December 31, 2023, with at least three years of service
*Excludes employees in some specific departments(2) Application period
October 2, 2023 to October 31, 2023(3) Retirement date
December 31, 2023(4) Preferential benefits
(i) Special additional allowance on top of regular retirement allowance
(ii) Reemployment support services by an outside professional company to applicants(5) Number of employees who can be accepted into the program
3. Impact on financial performance
The impact of the implementation of the program on financial results will be announced after a careful examination of the status of applications.
As a specialized company dedicated to eye health, Santen carries out research, development, marketing, and sales of pharmaceuticals, over-the-counter products, and medical devices, and its products now reach patients in over 60 countries and regions. Toward realizing “WORLD VISION” (Happiness with Vision), the world Santen ultimately aspires to achieve, as a “Social Innovator”, Santen aims to reduce the social and economic opportunity loss of people around the world caused by eye diseases and defects by orchestrating and mobilizing key technologies and players around the world. With scientific knowledge and organizational capabilities nurtured over a 130-year history, Santen provides products and services to contribute to the well-being of patients, their loved ones and consequently to society.
For more information, please visit Santen’s website (https://www.santen.com/en).
Santen Pharmaceutical Co., Ltd.