Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President and CEO: Gyo Sagara; 'the Company') today announced that it has resolved to change the Representative Directors at the Board of Directors Meeting held on January 11, 2024 as described below

Reason for Change in Representative Directors

In FY2017, the Company formulated a long-term vision with a goal of FY2031, and FY2024 will be the third year of the second medium-term management plan (FY2022-FY2026).

In the second medium-term management plan, aiming to become a world-class company that can flexibly and swiftly respond to any situation, the Company has been working on business activities by establishing four growth strategies: 'Maximization of product value,' 'Reinforcement of pipelines and acceleration of global development,' 'Realization of direct sales in the US and Europe,' and 'Expansion of business domains.' The Company will strongly promote these growth strategies and reliably achieve the second medium-term management plan with FY2026 as the final year, as well as strengthen our research and development capabilities and build a foundation for direct sales in the US and Europe, leading to the third medium-term management plan.

Meanwhile, the Company has repeatedly discussed the president's succession plan at the Executive Appointment Meeting. At this meeting, we discussed topics such as the ideal management structure for realizing our long-term vision and the process for selecting a successor to the president, as well as held discussions aiming at selecting human resources suitable to lead the company's sustainable growth with the active involvement of the Outside Directors, who are the main members of this Meeting.

In order to strengthen our management structure as we enter an important phase in our process to become a global company, we have decided to change the Representative Director at the today's Board of Directors Meeting, following deliberations at the Executive Appointment Meeting.

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