Release
2023/10/31
OSAKA, Japan, October 31, 2023 - Shionogi & Co., Ltd. (Head Office: Osaka, Japan; Chief Executive Officer: Isao Teshirogi, Ph.D.; hereafter "Shionogi") announces the implementation results of an early retirement program (hereafter “the Program”) 1 announced on July 10, 2023 as follows.
Having achieved record-high earnings in FY2022,2 SHIONOGI revised SHIONOGI Transformation Strategy 2030 (hereafter “STS2030”), the Medium-Term Business Plan it had been implementing since 2020, as STS2030 Revision in June 2023. As achievement of the revised plan requires business transformations that include global growth, especially in the infectious disease area, and the establishment and growth of new businesses, we are working to strengthen our management base and human resources to win the global competition. This early retirement program was implemented with the aim of supporting employees who were considering their next careers amid drastic changes in the business environment.
1. Overview of the Program
(1) Eligible employees
Employees* who are aged 50 or over as of March 31, 2024, with at least five years of service
*Excludes managers and some professional as of July 1, 2023
(2) Number of employees who can be accepted into the program
About 200 employees
(3) Application period
August 1, 2023 to September 20, 2023
(4) Retirement date
October 31, 2023
(5) Preferential benefits
① Special additional allowance on top of regular retirement allowance
② Providing reemployment support services to applicants
2. Result of the offer
Number of applicants: 301 employees
3. Impact on financial performance
Due to this measure, approx. 6.6 billion yen was recorded as career change support costs under other expenses during the second quarter of FY2023. The impact of this measure on SHIONOGI’s consolidated earnings forecast for FY2023 announced on May 10, 2023, is minor.
References
1． Press release on July 10, 2023 Notice Regarding Implementation of an Early Retirement Program
Forward-Looking Statements
This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, lack of availability of raw materials and entry of competitive products. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For Further Information, Contact:
SHIONOGI Website Inquiry Form : https://www.shionogi.com/global/en/contact.html