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Strategic Plan 2015-2017

Focusing on three strategic priorities for realizing sustainable growth over the medium and long terms

(Diagram) Overview of Strategic Plan 2015-2017

Overview of the Strategic Plan

Under Strategic Plan 2015-2017, covering the three-year period from fiscal 2015 to fiscal 2017, we will work to overcome the impact of the substance patent expiries for our overactive bladder (OAB) treatment Vesicare and our anticancer product Tarceva in the period of 2018 to 2020, and focus on realizing further sustainable growth through three main strategic priorities.

Maximizing the Product Value

First, we will steadily nurture and maximize the value of our growth drivers, including XTANDI and Betanis/Myrbetriq/BETMIGA, created through our investments so far.

Creating Innovation

We will continue to make sufficient investments for creating innovation. Here, we will establish frameworks for continuously creating more innovative medicines and promote efficient research and development. Concurrently, we will also make sufficient investments in new opportunities in the perspectives of new therapeutic areas, new technologies, and new modalities.

Pursuing Operational Excellence

We will pursue operational excellence by creating a more efficient, higher-quality business operation infrastructure, in order to enhance our ability to address the changing environment.

Moreover, we will continue to actively explore and capture external business opportunities through acquisition, collaboration, and in-licensing.

Financial Guidance

Astellas has recognized return on equity attributable to owners of the parent (ROE) as an important management indicator. Under Strategic Plan 2015-2017, we aim to achieve ROE of 15% or more by seeking to maximize our earnings capabilities while ensuring that we enhance capital efficiency. We also aim to maintain and improve this level after the strategic plan period.
We aim to achieve growth in sales by maximizing the product value, while promoting measures to optimize cost of sales and SG&A expenses. In so doing, we seek to maximize operating profit prior to deduction of R&D expenses. Moreover, we plan to direct sufficient resources to investment in R&D, while also working to improve our operating margin.
CAGR in the mid-single-digit range is forecasted for sales during the strategic plan. R&D expenses will be maintained at the level of 17% or more of sales, and sufficient resources will be directed at new opportunities, in addition to existing therapeutic areas. For core operating profit, we are targeting a CAGR that exceeds sales CAGR. For core earnings per share (EPS), we are forecasting a CAGR that exceeds core operating profit CAGR.
In this way, we will work to enhance ROE by prioritizing the maximization of our earnings capabilities, while also pursuing balance sheet management and shareholder returns to enhance capital efficiency.

Financial Guidance in Strategic Plan 2015-2017

Financial Guidance in Strategic Plan 2015-2017 ROE: 15% or more Maintain and improve this level after the strategic plan period Consolidated Sales: CAGR(%): Mid-single-digit Core Operating Margin: CAGR that exceeds sales CAGR R&D Expenses: Higher than 17% against sales Core EPS: CAGR that exceeds core operating profit CAGR DOE (dividend on equity attributable to owners of the parent): 6% or more
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