Tokyo, January 31, 2018 - Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, “Astellas” ) today announced that, at a meeting of the Board of Directors held today, it resolved to transition from a company with an Audit & Supervisory Board to a company with an Audit & Supervisory Committee, as stated below.
The transition is subject to the approval at the Company’s 13th Term Annual Shareholders Meeting to be held in June, 2018.
1. Purpose of Transition
The Company recognizes enhancing and strengthening the corporate governance system as a material issue for management and to this date has been pushing ahead with continuous initiatives. Amid ongoing globalization and complication of the business environment, the Company is working to achieve sustainable improvement of enterprise value. To realize this, the Company has decided to transition to a company with an Audit & Supervisory Committee, which will enable the delegation of a substantial part of the Board of Directors’ decision-making authority of the execution of business to executive Directors. In this way, the Company will further enhance deliberation on matters such as business strategy in the Board of Directors and further strengthen the supervisory functions of the Board of Directors.
2. Schedule of Transition
At the 13th Term Annual Shareholders Meeting to be held in June 2018, the Company intends to transition to a company with an Audit & Supervisory Committee upon obtaining approval of the changes to the Articles of Incorporation necessary to proceed with the transition.
3. Others
As transition-related matters, the Company will announce the details of the changes to the Articles of Incorporation, the appointment of Directors, etc. as soon as determined.
About Astellas
Astellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Astellas is on the forefront of healthcare change to turn innovative science into value for patients. For more information, please visit our website at https://www.astellas.com/en.
Cautionary Notes
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management’s current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties.
Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.
Contacts for inquiries or additional information:
Astellas Pharma Inc.
Corporate Communications
TEL: +81-3-3244-3201 FAX: +81-3-5201-7473
