In anticipation of changing times, we will pursue Healthcare Innovation.
A wide variety of OTC drugs, contributing to the spread of self-medication. Ethical pharmaceuticals that meet a wide range of needs in the medical field, especially in dermatology. Applying our corporate philosophy of promoting Healthcare Innovation as we enter a new era in Japan, we will continue to make every effort to support health through our health-related businesses.
In Japan, which has become a truly advanced-age society, disease prevention and the ways of extending a healthy life expectancy have become major concerns for the public. The country actively promotes self-care initiatives, and began a self-medication tax system on Switch OTC drugs that started in 2017. The Basic Policies 2019, approved by the Japanese Cabinet in June of 2019, clarifies that self-medication will be promoted through the spread of OTC drugs.
While the methods of the social security system are being reviewed, using the slogan, “cooperation is required for major risks, but for minor risks you need self-help,” and the spread of self-medication to realize this, means that the role of OTC drugs will be increasingly important in the future.
To meet these social needs in our main business area, healthcare, we are making use of the know-how and advanced technologies we have cultivated over many years and focus on the development of Switch OTC and direct OTC drugs. Along with this, we have developed a competitive market advantage by building strong relationships of trust with pharmacies and drug stores, and have developed a variety of marketing practices. In addition, we will help to create the environment in which consumers can effectively use OTC drugs.
In the ethical pharmaceutical business, we continue to focus on dermatology, an area of particular strength, and in which we are developing highly original products.
To meet a wide range of needs in the medical field, we have actively joined in partnership with domestic and international firms, universities and research organizations, helping us to strengthen our new drug development and drug discovery research systems.
In recent years we have also applied the expertise and technologies developed in our dermatology research to the cosmetics business, and are also focusing on developing skin care brands.
Our international business is centered on six locations in the rapidly growing Asian market, as well as North America and Europe. We conduct local marketing and sales activities at each center, and work to expand the SATO brand to meet local needs and expand demand.
In production and distribution, we have developed an efficient supply chain and strengthened the cooperation between our domestic and international production and distribution centers in order to meet the responsibility of a pharmaceutical company to quickly and stably provide high-quality products.
In addition, as a mission of companies involved in health, we are promoting environmental initiatives across the company.
We celebrated our 100th anniversary in 2015, and, applying our corporate philosophy of promoting healthcare innovation, our health-related businesses focusing on OTC and ethical drugs will continue to work to contribute to the health of consumers. Thank you very much; I hope to continue to draw on your invaluable advice and support.
President and CEO