Change in timing:

The main trend of the current era is that the progress of globalization – combined with people, trade and goods – are the three main streams that create a change in the global landscape. In addition, in the current era, the importance of using intelligence as a resource includes elements such as technology, research and databases, and innovation is realized by connecting “need” with “reality”. Compounding the above, along with economic development around the world, advances in medicine have led to population growth, life expectancy, population aging, and the emergence of consumer societies. These are the “positives” brought about by globalization, while the “negatives” include the widening wealth disparity, greenhouse gas emissions due to overexploitation of the earth’s resources, and emerging problems in global geopolitical and economic systems.

Many of the various events that have emerged in such historical periods possess both the “positive” and “negative” of globalization. One of them is geared towards solving the problems facing the world through international cooperation, such as with the SDGs. To achieve the SDG goals, each company has a social responsibility (CSR), and investors and consumers are required to monitor and select companies through their ESG.

Direct Impact:

The first problem is the rising cost of social security, especially medical costs, due to the aging population. The need for efficient and optimal use of medical expenses has become a frontal issue in life.

Among these, we believe that the role of self-help, i.e. self-care and self-medication when consumers themselves have a strong perception of “maintaining their own health for their own benefit”, will continue to grow in the coming future.

Second, as mentioned above, we feel that significant advances in intellectual resources such as technology, research, and databases have made interdisciplinary collaboration necessary. In the medical field, I believe we should work towards open innovation using intellectual resources in all areas of various industries, including basic research, clinical medicine, and pharmaceutical research.

The third is that consumer needs are increasingly diversified due to changes in working styles, lifestyles, the evolution of communication technology and, most recently, the COVID-19 pandemic. With significant changes in information transmission and product distribution channels, the retail business has also changed to meet the changing needs of consumers.

In particular, health awareness and concerns are increasing, which is evident in e.g. information, environment, and online medical treatment where an individual’s condition can be discussed specifically, rather than generic terms such as maintaining health and preventing disease in a way that suits an individual, and even facilitating early detection of the disease. During the COVID-19 pandemic, I feel that the spread of direct sales and delivery to consumers, such as online sales and online shopping services, has significantly changed the transmission of information and product distribution channels, and the speed of these services has increased significantly.

Conclusion:

What path should Taisho Pharmaceutical Group take amid such trends in this era? We believe it is important to see this change as an opportunity to take on challenges and move forward step by step in the direction we want to go.

Finally, we would like to express our sincere thanks to everyone and hope that you will continue to accompany us in the near future.