Eyeing the Next Stage

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1 Eyeing the Next Stage

2 Our Values CONTENTS At a Glance CEO CSR IMSJPM 2014 IMS Health IMS-JPM

3 Santen Pharmaceutical Co., Ltd. Annual Report

4 Our Vision % 50% Santen Pharmaceutical Co., Ltd. Annual Report 2014

5 P.10 CEO Santen Pharmaceutical Co., Ltd. Annual Report

6 Our 85.7% No.1 1 3, MR No.2 No ,487 P.30 4 Santen Pharmaceutical Co., Ltd. Annual Report 2014

7 Advantage mL P.18 P Santen Pharmaceutical Co., Ltd. Annual Report

8 At a Glance 127, % % 25.5% 43.5% % P.30 P.36 10, % % DMARDs 2 EN 3.8% P.34 6, % % FX 0.3% P.35 2, % 19.3% P.36 1, % 8.8% DMARDs IMS-JPM Santen Pharmaceutical Co., Ltd. Annual Report 2014

9 At a Glance COSOPT COSOPT COSOPT PF TRUSOPT TRUSOPT PF TIMOPTIC TIMOPTIC PF TIMOPTIC-XE SAFLUTAN TAPTIQOM Santen Pharmaceutical Co., Ltd. Annual Report

10 / ,594 29,640 18,723 18,826 14,123 1,315 3, ,812 30,739 21,333 19,797 13,221 1,651 2, ,416 26,732 17,161 16,966 17,225 3,281 2, ,066 24,681 16,521 21,729 16,720 3,609 3, ,663 27,414 17,109 25,379 19,040 4,786 3,927 $ 1,444, , , , ,998 46,502 38, % , , , , , , , , , ,811 $ 2,245, ,756, % (29.7) EPS , , , , , $ % % % % ROE% DOE% , , , , , ,500 1,487 % % ,191 1,144 1,106 1, Santen Pharmaceutical Co., Ltd. Annual Report 2014

11 EPS % TRC105 DE EPS 2,000 1,000 0 ROE 1, , , , , % ROE DOE % DOE DOE 5.1 ROE 1 DOE 6 % P.50 P.54 P Santen Pharmaceutical Co., Ltd. Annual Report

12 CEO President and CEO s Message CEO 10

13 %1, % % VEGF Ikervis : : DE QOL Quality of Life % CEO Santen Pharmaceutical Co., Ltd. Annual Report

14 ROE ,210 1, % 10.2% Santen Pharmaceutical Co., Ltd. Annual Report 2014

15 % CEO , ROE % % Santen Pharmaceutical Co., Ltd. Annual Report

16 ,050 1,450 1, , ,864 1, Santen Pharmaceutical Co., Ltd. Annual Report 2014

17 20201 CEO Santen Pharmaceutical Co., Ltd. Annual Report

18 COSOPT COSOPT PF TRUSOPT TRUSOPT PF TIMOPTIC TIMOPTIC PF TIMOPTIC-XE SAFLUTAN TAPTIQOM Santen Pharmaceutical Co., Ltd. Annual Report 2014

19 CSR CSR CSR CSR CSR 3 ISO CSR CSR 2020 CSR CSR 2. ISO NGO CEO Santen Pharmaceutical Co., Ltd. Annual Report

20 No.1 Expanding Operations in Asia 2020 No.1 18 Santen Pharmaceutical Co., Ltd. Annual Report 2014

21 2020 No % % % 1232% No.1 * % * wth in the Asian Market 25.5% Santen Pharmaceutical Co., Ltd. Annual Report

22 1 Expanding 22.3 % 30.2% GSP 2 GSP Good Supply Practice 20 Santen Pharmaceutical Co., Ltd. Annual Report 2014

23 200 MR 10 MR M essage % No.2 QOL No.1 Santen Pharmaceutical Co., Ltd. Annual Report

24 No No Santen Pharmaceutical Co., Ltd. Annual Report 2014

25 M essage No.1 QOL QOV Quality of Vision: QOL Quality of Life No.1 28 APAO Santen Pharmaceutical Co., Ltd. Annual Report

26 CEO QOL Quality of Life 3 POC Santen Pharmaceutical Co., Ltd. Annual Report 2014

27 Ikervis TRACONTRC105 DE DE-122VEGF 150 DE SAKURA Ikervis 1. Proof of Concept Study Assessing double-masked Uveitis treatment Standardization of Uveitis Nomenclature Working Group DE-109 SAKURA Trace 0 SUN 7 0SAKURA DE Santen Pharmaceutical Co., Ltd. Annual Report

28 1 2 3 DE-089 Merck Sharp & Dohme Corp DE DE DE-117 2b DE DE-090 MSD DE-109 DE-120 1/2a Santen Pharmaceutical Co., Ltd. Annual Report 2014

29 DE DE NMDA MSD DE DE DE-120 VEGF PDGF /2a DE DE-117 EP b DE Santen Pharmaceutical Co., Ltd. Annual Report

30 1 2 3 Cyclokat Vekacia Catioprost Cortiject 1/ POC Proof of Concept 28 Santen Pharmaceutical Co., Ltd. Annual Report 2014

31 Cyclokat M essage Vekacia 3 Catioprost F2 Cortiject DE DE DE DE-109 M Santen Pharmaceutical Co., Ltd. Annual Report

32 , % %3, %1, % ,200 1, , ,000 2, ,013 2,734 2,474 2,549 2, VEGF 30 Santen Pharmaceutical Co., Ltd. Annual Report 2014

33 11.5% % % % P2Y TOPICS Osaka Study Osaka Study Osaka Study 65% Osaka Study 2013 Santen Pharmaceutical Co., Ltd. Annual Report

34 10.5%1,047 35% % % % VEGF 52.6% VEGF Santen Pharmaceutical Co., Ltd. Annual Report 2014

35 % 1.5% VEGF VEGF % VEGF % % Santen Pharmaceutical Co., Ltd. Annual Report

36 9.7% % % , % H1 H1 DMARDs 1 5.5% H1 EN % Santen Pharmaceutical Co., Ltd. Annual Report 2014

37 DMARDs 38.4% DMARDs EN QOL Quality of Life , % % EN 1987 EN1995 EN QOL FX FX 0.6% PC 2004 Santen Pharmaceutical Co., Ltd. Annual Report

38 , % , % % % 43.5% % % % % 36 Santen Pharmaceutical Co., Ltd. Annual Report 2014

39 MR MR No.1 TOPICS 34 WOC2014 TOKYO WOC2014 TOKYO ,000 WOC2014 TOKYO2020 Santen Pharmaceutical Co., Ltd. Annual Report

40 CSR CSR QOL Quality of Life CSR CSR QO QOL L Quality of Life 38 Santen Pharmaceutical Co., Ltd. Annual Report 2014

41 CSR CSR CSR 3 ISO CSR CSR CSR CSR CSR 1. ISO NGO CSR CSR CSR CSR CSR 7 CSR Plan Do Check Action PDCA KPI CSR CSR CSR CSR Plan P CSR Action 2 3 Check Do KPI A 1 C D CSR NPO NGO Santen Pharmaceutical Co., Ltd. Annual Report

42 CSR 3 MR CSR Santen Pharmaceutical Co., Ltd. Annual Report 2014

43 CO 2 t-co ISO ,000 9,000 CSR NGO CSR Santen Pharmaceutical Co., Ltd. Annual Report

44 Corporate Governance CSR CEO Santen Pharmaceutical Co., Ltd. Annual Report 2014

45 Santen Pharmaceutical Co., Ltd. Annual Report

46 44 Santen Pharmaceutical Co., Ltd. Annual Report CSR 4 3

47 BCM PDCA 1 IR P PlanD DoC CheckA Action IR Santen Pharmaceutical Co., Ltd. Annual Report

48 Message Santen Pharmaceutical Co., Ltd. Annual Report 2014

49 CEO COO 20 CEO Santen Pharmaceutical Co., Ltd. Annual Report

50 CEO CSR 48 Santen Pharmaceutical Co., Ltd. Annual Report 2014

51 Santen Pharmaceutical m Co., Ltd. Annual Report

52 2 98.0% 24.7%1, % %1, %1, % 25.5%1, % FX 0.3% % % , , , , ,396 98, ,251 9, ,611 1, ,455 6,474 (0.3) 2,950 2, ,678 2, , , %1, ,600 1,487 1,106 1,108 1,144 1,191 EN % Santen Pharmaceutical Co., Ltd. Annual Report 2014

53 40.0% % % % % % % % % % 11.1% %18.4% 11.5% 1EPS Santen Pharmaceutical Co., Ltd. Annual Report

54 1EPS % % ,311 6 ROA 8.3% 7.4% 1, %67.5% ROA ROA % 2, ,311 1,988 1,996 1,848 1, , %78.2% 1 9.6% ,189.50ROE 10.0%9.9% ROE ROE % 2, ,808 1,645 1,648 1,561 1, , , Santen Pharmaceutical Co., Ltd. Annual Report 2014

55 ROE DOE DOE5% 1100 DOE 4.8% DOE5.1% 1DOE 1 DOE % ,958 9,943 16, (6,695) (4,596) (2,099) (7,953) (21,557) 13,604 72,397 59,797 12,600 Santen Pharmaceutical Co., Ltd. Annual Report

56 PL % % XE EN 54 Santen Pharmaceutical Co., Ltd. Annual Report 2014

57 10 70% PL Santen Pharmaceutical Co., Ltd. Annual Report

58 ,858 92,696 98, ,486 31,859 33,710 34,535 35,484 43,475 40,004 42,868 44,590 14,524 18,982 20,995 20, ,775 18,436 20,342 21,039 7,454 7,413 7,319 7,891 6,321 11,023 13,023 13,148 3,226 4,907 2,106 3,556 4,521 4,750 4,824 4,761 11,853 12,620 13,971 13, , , , , ,196 6,619 20,879 14,959 5,246 (2,907) (1,330) (5,846) (12,122) (12,712) (5,900) (5,691) % ,231 82,735 93, ,820 37,237 32,676 30,395 30, , , , ,099 12,686 6,882 5,614 5, , , , ,587 ROE% ROA% % % PER DOE% ,963 86,659 86,751 86,825 2,335 2,308 2,312 2, Santen Pharmaceutical Co., Ltd. Annual Report 2014

59 , , , , , , ,663 $1,444,456 36,513 35,947 34,710 34,437 35,385 41,501 58, ,564 46,510 50,178 46,244 45,636 52,299 52,884 63, ,529 20,371 15,494 29,640 30,739 26,732 24,681 27, , ,483 15,824 28,610 31,074 27,791 25,592 26, ,302 7,832 5,701 9,887 9,741 10,630 9,071 9,784 95,063 12,651 10,123 18,723 21,333 17,161 16,521 17, ,239 3,151 2,953 1,315 1,651 3,281 3,609 4,786 46,502 4,593 4,210 3,421 2,976 2,949 3,291 3,927 38,155 12,942 18,458 14,123 13,221 17,225 16,720 19, , $ , , , , , , , ,468 11,849 26,110 17,768 21,483 9,943 25,958 $ 252,218 (2,083) (5,619) (829) (7,676) (10,273) (4,596) (6,695) (65,049) (11,415) (11,373) (6,753) (1,570) (8,559) (21,557) (7,953) (77,276) , , , , , , , , , ,006 $1,515,803 29,849 28,665 26,574 24,957 25,523 27,420 27, , , , , , , , ,106 2,245,489 5, , , , , , , ,811 1,756, ,867 86,916 86,992 87,053 87,147 82,469 82,583 2,483 2,690 2,756 2,867 3,053 3,050 3,072 Santen Pharmaceutical Co., Ltd. Annual Report

60 ,397 59,797 $ 703, ,225 2,094 41, ,571 51,616 43, ,511 (4) (2) (36) 52,082 43, , ,031 20, , ,346 1,880 22,796 4,925 4,024 47, , ,583 1,515, ,266 8,241 80,315 45,033 42, ,554 13,347 11, ,684 12,910 11, , , ,455 7,937 80,659 77, ,710 (53,030) (50,089) (515,262) 27,629 27, , ,740 18, ,229 6,298 5,936 61,193 8,357 6,768 81,202 1,930 1,420 18, ,488 4,460 53,327 3,658 2,880 35,536 47,471 39, , , ,641 $2,245, Santen Pharmaceutical Co., Ltd. Annual Report 2014

61 ,270 9,266 $ 138, ,696 9,868 94,207 5,459 4,202 53, ,170 3,039 79,379 1, ,568 39,094 27, , , ,401 52, ,796 2,269 27, , ,797 1,480 1,011 14,376 10,802 7, , ,896 34, , ,000, ,000,000 82,582, ,469,103 7,264 7,081 70, ,959 7,775 77, , ,002 1,555,728 2, (9) (2) (90) 175, ,856 1,703, ,036 1,920 39,214 2,574 (2,968) 25,010 (1,129) (10,966) 5,481 (1,048) 53, , , ,132 1,760, , ,641 $2,245,489 Santen Pharmaceutical Co., Ltd. Annual Report

62 , , ,416 $1,444,456 58,104 41,501 35, ,564 90,559 77,565 79, ,892 63,145 52,884 52, ,529 27,414 24,681 26, , , ,438 (223) (2,163) (6) (7) (23) (55) , (1,381) (13,415) 10 (94) (19) (916) (41) (403) 26,893 25,592 27, , ,763 7,908 9, ,291 (1,979) 1, (19,228) 9,784 9,071 10,630 95,063 17,109 16,521 17, ,239 17,109 16,521 17, ,239 17,109 16,521 17, , ,143 1, ,816 5,542 3,339 (689) 53, ,686 8,270 5,208 (195) 80,346 25,379 21,729 16, ,585 25,379 21,729 16,966 $ 246, $ Santen Pharmaceutical Co., Ltd. Annual Report 2014

63 ,615 7, ,578 (2) (443) (5,618) (8,709) 17,161 (2) (689) ,695 8, ,030 (4) 51 (6,307) (8,469) 16,521 (13,738) (660) (13,080) 13,740 1,869 3,339 (23) ,081 7, ,002 (2) 1,920 (2,968) (1,714) 7,081 7, ,230 (2) 1,920 (2,968) (1,714) (8,250) 17,109 (7) ,116 5, ,264 7, ,116 (9) 4,036 2,574 (1,129) $68,800 $75,547 $1,467,178 $ (25) $18,656 $(28,834) $ $3,155 2,214 (16,652) 68,800 75,547 1,469,392 (25) 18,656 (28,834) (16,652) 3,155 1,781 1,780 (80,161) 166,239 (65) ,558 53,844 5, $70,581 $77,327 $1,555,728 $ (90) $39,214 $ 25,010 $(10,966) $3,879 Santen Pharmaceutical Co., Ltd. Annual Report

64 Santen Pharmaceutical Co., Ltd. Annual Report ,893 25,592 27,791 $261,302 2,914 2,657 2,787 28,314 1, ,841 (474) (42) (4,605) ,381 13, ,045 (602) (522) (529) (5,848) (7,672) (5,560) 1,037 (74,547) 1,650 (2,589) (3,294) 16,033 4,927 1,170 2,034 47,875 1,970 (1,790) 52 19,136 32,413 19,786 30, , ,972 (3) (3) (17) (28) (7,067) (10,372) (9,268) (68,658) 25,958 9,943 21, ,218 (4,786) (3,609) (3,281) (46,502) (4,221) (4,883) (2,420) (41,008) ,096 (734) (807) (1,783) (7,135) 2,520 4,680 7,632 24,483 (10,804) (3) (7) (26) 3 8 (6) (18) (1) (65) (6,695) (4,596) (10,273) (65,049) (7) (13,763) (2) (66) (8,247) (8,469) (8,706) (80,134) ,923 (7,953) (21,557) (8,559) (77,276) 1, (98) 12,526 12,600 (15,238) 2, ,419 59,797 75,035 72, ,006 72,397 59,797 75,035 $703,425

65 ,171 $ 6,251 6,195 (340) (2,320) (2) 10,955 (32) (119) 10,804 $ Santen Pharmaceutical Co., Ltd. Annual Report

66 a b c d e ,79127, ,173 1,04210,123 1,05710, Santen Pharmaceutical Co., Ltd. Annual Report 2014

67 Santen Pharmaceutical Co., Ltd. Annual Report

68 ,537 84,368 87, ,790 84,500 87, Santen Pharmaceutical Co., Ltd. Annual Report 2014

69 , , , ,96657,969 1,71416, , Santen Pharmaceutical Co., Ltd. Annual Report

70 ,316 2, $ 32,218 (57) 3,316 2, ,218 (1,173) (1,027) (330) (11,402) 2,143 1, ,816 5,542 3,339 (689) 53, , , ,799 (321) (3,113) 585 5,686 8,270 5,208 (195) $ 80, Novasorb* Cyclokat Novasorb * % 100% , , , Santen Pharmaceutical Co., Ltd. Annual Report 2014

71 10 5 1,171 12,446 13, ,320 2, , Santen Pharmaceutical Co., Ltd. Annual Report

72 ,397 72,396 (1) 59,797 59,797 (0) 52,085 52,085 43,841 43, ,112 4,111 (1) 4,218 4,218 (0) 21,235 21,235 15,477 15,477 (14,270) (14,270) (9,266) (9,266) (9,696) (9,696) (9,868) (9,868) (8,170) (8,170) (3,039) (3,039) 2014 $ 703,425 $ 703,420 $ (5) 506, ,082 : 1,094 1,094 39,954 39,947 (7) 206, ,321 (138,655) (138,655) (94,207) (94,207) (79,379) (79,379) Santen Pharmaceutical Co., Ltd. Annual Report 2014

73 $4, $4, ,397 59,797 $ 703,425 $ 52,085 43, ,082 : ,094 4,100 2,000 2,200 39, , ,724 2,200 $1,250,438 $ ,000 1, ,704 1, ,112 3,111 (1) 2,514 2,513 (1) 4,112 4,111 (1) 4,218 4,218 (0) : 2014 $ 9,718 $ 9,720 $ 2 30,236 30,227 (9) $39,954 $39,947 $(7) Santen Pharmaceutical Co., Ltd. Annual Report

74 ,244 16,597 6,353 12,012 15,061 3, ,776 4,638 (138) (84) 15,020 21,235 6,215 12,512 15,477 2, $ 99,532 $161,263 $61, ,409 45,058 (1,351) $145,941 $206,321 $60, , $ % 30 50% 72 Santen Pharmaceutical Co., Ltd. Annual Report 2014

75 ,222 16,703 $157, ,796 3,418 3,621 33,206 20,031 20,949 $194, $ 12 $ 0 $ $ 4, ,124 1,222 1,275 $11, Santen Pharmaceutical Co., Ltd. Annual Report

76 $ $ $ $ $ $ Santen Pharmaceutical Co., Ltd. Annual Report 2014

77 % (17,372) 11,053 (6,319) 2,655 (249) (3,913) (208) (198) ,312 2, % 2.00% 2.00% 2.00% * * Santen Pharmaceutical Co., Ltd. Annual Report

78 % i ,372 $168,789 (353) (3,431) 17, ,358 1,069 10, ,938 (190) (1,844) (916) (8,903) ,217 $167,281 ii ,052 $107, , , ,251 (351) (3,415) ,816 $114, Santen Pharmaceutical Co., Ltd. Annual Report 2014

79 iii ,036 $165,523 11, ,808 5,220 50, ,758 5,401 52,473 5,401 52,473 5,401 52,473 iv ,069 $10, ,938 (222) (2,159) 269 2,612 1,315 $12,775 v $8, $8,799 vi ,749 $16,997 1,749 $16,997 Santen Pharmaceutical Co., Ltd. Annual Report

80 vii 1. 34% 50% 16% 100% 35% viii % 2.0% 3. 1,19011, % 25% 10% ,551 15,0741, , ,938, ,080 13, ,129 40, Santen Pharmaceutical Co., Ltd. Annual Report 2014

81 , , , , , ,700 99, , ,200 78, , Santen Pharmaceutical Co., Ltd. Annual Report

82 ,600 30, , ,500 91, , ,000 30,600 5,800 3, ,900 30, , ,700 88, ,100 82, ,500 70,800 38,900 2, ,000 27,800 18,300 2, ,500 43,000 20, ,315 3,230 3,170 2,920 2,734 4,747 4,425 4,425 4,506 4, ,050 2,715 2,480 1,743 1,176 4,446 4,500 4,648 4,525 4,555 * * ,040184,99816,72017, Santen Pharmaceutical Co., Ltd. Annual Report 2014

83 % 37.9% 40.4% % 37.9% 40.4% (0.3) 0.9 (0.5) (0.5) 2.7 (5.0) (5.1) (6.2) (1.6) (0.7) % 35.4% 38.2% ,294 5,842 $70,873 3,298 32,046 1, ,330 1,116 1,037 10, , , , , ,028 1,837 29,417 18,270 14, ,514 (8,188) (6,764) (79,559) 10,082 7,428 97,955 (2,786) (2,256) (27,065) (2,225) (1,057) (21,616) (11) (18) (109) (22) (26) (213) (5,044) (3,357) (49,003) 5,038 4,071 $48,952 Santen Pharmaceutical Co., Ltd. Annual Report

84 ,346 1,880 $ 22,796 5,488 4,460 53,327 (2,796) (2,269) (27,171) 5,038 4,071 $ 48, % % % % 35.48% , Santen Pharmaceutical Co., Ltd. Annual Report 2014

85 ,713 2, , , (124) 145,713 3, ,787 (124) 148,663 27,828 (414) 27,414 27, ,283 3, ,749 89, ,106 2, ,914 2,914 1,013 1,013 1,013 3, ,870 3, ,810 2, , , (114) 116,810 2, ,180 (114) 119,066 25,354 (673) 24,681 24, ,546 2, ,990 76, ,641 2, ,657 2, , ,243 5, ,846 2, , , (113) 111,846 2, ,529 (113) 114,416 26, ,732 26, ,535 2, ,661 90, ,801 2, ,787 2, , ,971 15,971 Santen Pharmaceutical Co., Ltd. Annual Report

86 $1,415,789 $28,667 $1,444,456 $ $1,444,456 1,196 1,196 (1,196) 1,415,789 29,863 1,445,652 (1,196) 1,444, ,381 (4,018) 266, ,363 1,343,598 33,675 1,377, ,216 2,245,489 27, ,314 28,314 9,841 9,841 9,841 37, ,603 37, ,396 98,981 93,620 $1,237,814 10,251 9,874 9,987 99,605 1,611 1,481 3,642 15,649 6,455 6,474 4,597 62,721 2,678 2,246 2,558 26, , , , ,416 $1,444, Santen Pharmaceutical Co., Ltd. Annual Report 2014

87 , ,712 95,374 $1,186,486 12,295 9,202 8, ,459 1, ,451 10,428 13,174 8,560 6, , , , ,416 $1,444,456 22,826 22,560 21,157 $ 221,785 2,106 2,597 2,245 20, ,259 2,053 1,553 1,486 19,944 27,629 27,420 25,523 $ 268, ,546 25,486 23,297 $316,230 26,334 21,716 20, , $ $ , $ 9,841 1, $ 9,841 6,298 5,936 $61,193 6,298 5,936 $61,193 Santen Pharmaceutical Co., Ltd. Annual Report

88 Merck & Co., Inc UFJ 2. Merck & Co., Inc... Kenneth C. Frazier. 1, , COSOPT, COSOPT PF, TRUSOPTT, TRUSOPT PF, TIMOPTIC, TIMOPTIC PF, TIMOPTIC XE, SAFLUTAN, T APTIQOM , Santen Pharmaceutical Co., Ltd. Annual Report 2014

89 1 CEO % CEO Santen Pharmaceutical Co.,Ltd. Annual Report 2014Internal Control Report Santen Pharmaceutical Co., Ltd. Annual Report

90 Merck & Co., Inc KPMG AZSA LLC Santen Pharmaceutical Co., Ltd. Annual Report 2014Independent Auditor s Report 88 Santen Pharmaceutical Co., Ltd. Annual Report 2014

91 URL A TEL IR ir@santen.co.jp ,264 7, UFJ TEL ,0721,878 82,582, % 0.0% 10 5, % 45.5% 92.1% 9.6% 0.9% 0.0% 0.8% 0.4% 1.5% 5.2% 5, , , , UFJ 2, , , GIC PRIVA TE LIMITED 1, , ,000 4,500 3,000 1,500 0 TOPIX 09/4 10/4 11/4 12/4 13/4 14/4 12,000 9,000 6,000 3, /4 10/4 11/4 12/4 13/4 14/ ,195 3,445 3,655 5,050 6,150 2,694 2,731 2,778 3,330 4, Santen Pharmaceutical Co., Ltd. Annual Report

92 TEL FAX TEL FAX Niittyhaankatu 20, P.O. Box 33, FIN Tampere, Finland TEL FAX TEL FAX TEL FAX Santen Pharmaceutical Co., Ltd. Annual Report 2014

93 A TEL FAX TEL FAX Santen Holdings U.S. Inc Powell Street, Suite 1600, Emeryville, California 94608, U.S.A. Santen Inc Powell Street, Suite 1600, Emeryville, California 94608, U.S.A. TEL FAX Advanced Vision Science, Inc Thornwood Drive, Goleta, California 93117, U.S.A. TEL FAX Santen Holdings EU B.V. Herikerbergweg 238, 1101CM Amsterdam Zuidoost, Netherlands Santen Oy Niittyhaankatu 20, P.O. Box 33, FIN Tampere, Finland TEL FAX Santen S.A.S. 1 rue Pierre Fontaine, Genavenir IV, F Evry cedex, France TEL: FAX: Santen GmbH Erika-Mann-Strasse Munchen, Germany TEL FAX SantenPharma AB Solna torg 3, SE Solna, Sweden TEL FAX Santen Pharmaceutical (China) Co., Ltd TEL FAX Santen Pharmaceutical Korea Co., Ltd. KCUBE Tower 3F, 35, Yeoksam-ro 25-gil, Yeoksam-dong, Gangnam-gu, Seoul, , Korea TEL FAX Taiwan Santen Pharmaceutical Co., Ltd TEL FAX Santen India Private Limited No. 216, Raheja Chambers, 12 Museum Road, Bangalore , India TEL: FAX: Santen Pharmaceutical Asia Pte.Ltd. One Raffles Place, Level 24 Tower 1, 1 Raffles Place , Singapore TEL FAX W3-1206B TEL FAX Unit 1406, Fl.14, Empress Tower, Hai Ba Trung, Dakao Ward, District 1, HCMC, Vietnam TEL FAX Santen Pharmaceutical Co., Ltd. Annual Report

94 92 Santen Pharmaceutical Co., Ltd. Annual Report FX EN 1999 XE FX NE P

95 ISO14001 SAIN % E AL i 2009 FX V VEGF PC Santen Pharmaceutical Co., Ltd. Annual Report

96 Printed in Japan

CONTENTS CEO CSR 3 31 IMSJPM 213 IMS Health IMS-JPM

CONTENTS CEO CSR 3 31 IMSJPM 213 IMS Health IMS-JPM Eyeing Further 213 213 3 Specialization CONTENTS 1 2 4 6 12 18 2 24 3 32 36 4 41 77 78 8 CEO CSR 3 31 IMSJPM 213 IMS Health IMS-JPM 28.4-213.3 1 1. 189 189 12 P.12 P.24 8.3% 2 1 No.2 39.7% 5.4% No.2 19.1%

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