アステラス製薬のMVV分析 - Astellas Pharma: Pursuing a 37.5% Reduction in Scope 3 Emissions through Value-Driven Management

Key Metrics at a Glance

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Achieving a 46% GHG Reduction and the Next Frontier: Scope 3

In Astellas Pharma's ESG strategy, climate action is characterized by clear results and ambitious target setting. Greenhouse gas (GHG) emissions (Scope 1+2) for FY2024 were 108,000 tons^¹, representing a steady reduction from 122,250 tons^² in the previous fiscal year. This progress is driven by an aggressive transition to renewable energy. In FY2024, renewable energy reached 19% of total energy consumption^³, resulting in a GHG reduction impact of 26,000 tons^⁴. This demonstrates a commitment not just to reducing emissions, but to transforming the very structure of the company’s energy usage.

However, Astellas is looking even further ahead toward reducing Scope 3 emissions across its entire supply chain. The target of a 37.5% reduction in Scope 3 by FY2025^⁵ is an extremely ambitious challenge that requires transformation in areas beyond the company’s direct control. Considering that Scope 3 emissions in FY2024 reached 1,276,000 tons^¹—more than 10 times the total of Scope 1+2—the difficulty of achieving this goal cannot be overstated. Success will require collaboration with partners across the entire value chain, from raw material procurement to product disposal. The company’s vision of "further enhancing social and corporate value through sustainability^⁶" is entering a phase where its true resolve will be tested.

Social Value Creation Through Business: Ranked 15th in the Access to Medicine Index

Astellas' social contribution is focused on creating "Value" through its core business rather than just philanthropic activities. An objective indicator of this stance is its ranking of 15th out of 20 companies^⁷ in the Access to Medicine Index, which evaluates contributions to improving access to pharmaceuticals. While this ranking suggests there is still room for improvement compared to global top-tier peers, it serves as evidence that the company recognizes its responsibility to address the complex global issue of medicine access.

This initiative is directly linked to the corporate philosophy: "Contribute toward improving the health of people around the world through the provision of innovative and reliable pharmaceutical products^⁸." The belief that the company’s responsibility extends beyond R&D and manufacturing to ensuring products reach the patients who need them worldwide is the foundation of its sustainability activities. Moving forward, to further improve this ranking, Astellas will need to further integrate access-to-medicine perspectives into every aspect of its business strategy, including pricing, licensing, and R&D prioritization.

The State of Human Capital Management: Are the "5 Behaviors" Permeating the Organization?

The success of Astellas' transformation into a "cutting-edge, value-driven life science innovator^⁹" undoubtedly hinges on the power of its human capital. The company has defined three core values—Integrity, Innovation, and a Challenge-oriented mindset^¹⁰—and "5 Behaviors"—Courage, Agility, One Astellas, Results, and Integrity^¹¹—as guidelines for its corporate culture. These specifically outline the mindset and actions required of every employee to realize the company's vision.

The CEO's strong commitment is evident in his stated mission to "foster a corporate culture that strives for new heights as One Astellas^¹²." However, the critical factor is whether these ideals are reflected in daily decision-making and actions rather than remaining mere desk-theory. Based on current fact-based data, specific indicators for measuring cultural depth—such as the ratio of women in management or employee engagement scores—are not fully visible. The major challenge for Astellas going forward will be to demonstrate with objective data whether its stated philosophy is truly serving as the fertile ground for a "virtuous cycle of innovation^¹³."

"Value = Outcome / Cost": The Unwavering Definition Driving Astellas

The most important key to understanding Astellas' management strategy lies in its unique definition of "Value." Since 2023, the company has consistently defined "Value" as "the outcomes that matter to patients / the cost to the healthcare system to deliver those outcomes^¹⁴." This is a comprehensive concept that considers not only the efficacy of a drug but also its medical economic efficiency.

This definition serves as a compass for all corporate activities. In R&D, priority is given to themes that bring about outcomes that meet truly unmet medical needs and dramatically improve a patient’s Quality of Life (QOL). In marketing and sales, the company is required to appropriately communicate the clinical value of its products to healthcare professionals and payers, thereby contributing to the overall efficiency of the healthcare system.

This definition of "Value" forms the core of the vision: "On the forefront of healthcare change, turning innovative science into VALUE for patients^¹⁵." Instead of releasing scientific progress (seeds) to the market simply as "products," Astellas refines them against this rigorous definition to sublimate them into true "Value" for society. This unwavering philosophy sets Astellas apart from other pharmaceutical companies.

How the "Value-Driven Innovator" Transformation Changes the Future of Drug Discovery

The transformation into a "cutting-edge, value-driven life science innovator^¹⁶" is more than a slogan; it is an ambitious attempt to fundamentally change the approach to drug discovery. While traditional drug discovery starts with specific disease mechanisms or molecular targets, a "value-driven" approach begins with the question: "What outcomes truly matter to patients?"

This philosophy is clearly reflected in the company's priority R&D areas. For example, the mission in regenerative medicine to "free patients from the fear of blindness and bring the light of hope for restoring vision^¹⁷" and the goal in Targeted Protein Degradation (TPD) to "overcome 'undruggable' targets and bring innovative therapeutic effects to patients^¹⁸" are expressions of the intent to dramatically improve patient outcomes that could not be met by existing treatments.

To succeed in this transformation, Astellas must evolve its capabilities and capture opportunities in areas beyond traditional prescription drugs^¹⁹. Innovation that looks toward the periphery of drug discovery—such as diagnostic and prevention solutions utilizing digital technology or services that improve the patient treatment experience—will be essential. Astellas' challenge has the potential to force a transformation not only in its own future but in the business model of the entire pharmaceutical industry.

CDP Ratings "A-/B": Serious Commitment to Climate Change and Water Security

While corporate ESG efforts often lean toward self-evaluation, objective perspectives from global rating agencies are vital for measuring true commitment. Astellas has earned high marks from CDP, an international environmental non-profit, receiving an "A-" for Climate Change and a "B" for Water Security^²⁰.

Specifically, the "A-" rating in Climate Change (Leadership level) proves that the company accurately identifies risks and opportunities, sets ambitious targets, and executes steady reduction activities. Actions such as the introduction of renewable energy^³ and the setting of Scope 3 reduction targets^⁵ involving the entire supply chain directly contributed to this evaluation.

On the other hand, the "B" rating in Water Security (Management level) suggests that while water risk management systems are in place, there is room to deepen efforts, such as understanding water usage across the entire value chain and risk assessment at the watershed level. Since pharmaceutical production sites use large quantities of water, the sustainable use of water resources is a critical issue for business continuity. Considering that water withdrawal in FY2024 was 6,883,000 m³^²¹—a slight increase from the previous year—a more intensive water resource management strategy will be required. These external ratings serve as valuable milestones for Astellas as it builds resilient and sustainable business activities^²² that meet societal expectations.

Analyzing Multi-Year Trends: The Path from 2023 to 2025

Metric	2023	2024	2025	Change	Analysis
GHG Emissions (Scope 1+2)	122,250 tons ^²	108,000 tons ^¹	-	11.6% decrease	Reductions are progressing steadily, aided by the adoption of renewable energy^³. Commitment to climate action is visible in concrete figures.
Water Withdrawal	6,497 thousand m³ ^²³	6,883 thousand m³ ^²¹	6,883 thousand m³ ^²⁴	+5.9%, then flat	Usage increased in FY2024 but has since stabilized. Efficient management of input remains an ongoing challenge in the water-intensive pharma industry.
Key Philosophical Keywords	Common definition of "Value" ^²⁵	Common definition of "Value" ^²⁶	Common definition of "Value" ^¹⁴	Unchanged	The unique definition of "Value = Outcome / Cost" has been used consistently for three years, anchored at the core of management. This symbolizes strategic consistency.

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The Future of Astellas Guided by the Definition of "Value"

Strength: Strong Consistency Between Philosophy and Strategy

Astellas Pharma's greatest strength lies in the robust consistency between its corporate philosophy and business strategy, underpinned by the vision to "turn innovative science into VALUE for patients^¹⁵" and its unique definition of "Value = Outcome / Cost^¹⁴." This clear philosophy permeates all corporate activities, from R&D direction to sustainability initiatives. In particular, the steady results in the ESG domain, represented by the CDP ratings^²⁰, prove that this philosophy is not just a motto but is linked to concrete action. This consistency forms the foundation for earning stakeholder trust and achieving sustainable growth in corporate value^²⁷.

Challenge: Accelerating Culture Permeation and Innovation Creation

However, challenges remain. One is the difficulty of permeating high ideals and a specific corporate culture across a global workforce of thousands and translating that into concrete innovation. Under the slogan "One Astellas^¹¹," the company must build an environment where organizational unity is fostered and every employee can practice the "Challenge" value^¹⁰. Disclosure of human capital data showing specific progress on this front is limited, making it difficult to objectively evaluate the results of culture-building. Furthermore, the extremely ambitious target of a 37.5% reduction in Scope 3 emissions^⁵ is a challenge that will test the company's leadership and execution across the entire value chain.

Key Points for Future Focus

When evaluating Astellas Pharma in the future, three points warrant attention. First, to what extent will the "value-driven" R&D model actually lead to the creation of breakthrough new drugs and business growth? The company will be tested on whether its philosophy can be validated by concrete performance. Second is the progress of specific measures to achieve Scope 3 reduction targets. The execution process—including collaboration with suppliers and the adoption of new technologies—will be a litmus test for the sincerity of the company’s sustainability management. Finally, the focus will be on the cultivation of an organizational culture that supports innovation and the expansion of human capital metric disclosures to measure its success. Whether Astellas can evolve into an organization where diverse talent is energized and can maximize creativity will determine its long-term competitiveness.

Footnotes

出典

Footnotes

Astellas Integrated Report 2025, p.26, "Improving Environmental Sustainability," (FY2024) ↩ ↩² ↩³
Astellas Integrated Report 2024, p.98, "GHG Emissions Trends," (FY2023) ↩ ↩²
Astellas Integrated Report 2024, p.19, "Natural Capital," (FY2024) ↩ ↩² ↩³
Astellas Integrated Report 2025, p.73, "Use of Renewable Energy," (FY2024) ↩
Astellas Changing Tomorrow Integrated Report 2023, p.23, "Improving Environmental Sustainability," (Target for FY2025) ↩ ↩² ↩³
Astellas Integrated Report 2025, p.63, "Interview with the Chief Sustainability Officer," (FY2025) ↩
Astellas Integrated Report 2025, p.76, "ESG Evaluation," (FY2024) ↩
Astellas Integrated Report 2025, p.18, "Value Creation Model," (FY2025) ↩
Astellas Integrated Report 2025, p.22, "Astellas' Business Model for Creating Innovation," (FY2025) ↩
Astellas Integrated Report 2025, p.4, "Values and Behaviors in the Organization," (FY2025) ↩ ↩²
Astellas Integrated Report 2025, p.4, "Values and Behaviors in the Organization," (FY2025) ↩ ↩²
Astellas Changing Tomorrow Integrated Report 2023, p.8, "CEO Interview," (FY2023) ↩
Astellas Integrated Report 2024, p.13, "CEO Interview," (FY2024) ↩
Astellas Integrated Report 2025, p.13, "CEO Message," (FY2025) ↩ ↩² ↩³
Astellas Integrated Report 2025, p.29, "VISION," (FY2025) ↩ ↩²
Astellas Integrated Report 2025, p.23, "Astellas' Materiality Matrix," (FY2025) ↩
Astellas Changing Tomorrow Integrated Report 2023, p.55, "Regeneration and Maintenance/Restoration of Vision," (FY2023) ↩
Astellas Changing Tomorrow Integrated Report 2023, p.55, "Targeted Protein Degradation," (FY2023) ↩
Astellas Integrated Report 2024, p.18, "Business Model," (FY2024) ↩
Astellas Integrated Report 2025, p.76, "ESG Evaluation," (FY2024) ↩ ↩²
Astellas Integrated Report 2025, p.74, "Initiatives for Resource Circulation," (FY2024) ↩ ↩²
Astellas Integrated Report 2025, p.23, "Astellas' Materiality Matrix," (FY2025) ↩
Astellas Integrated Report 2024, p.71, "Effective Use and Recycling of Water Resources," (FY2023) ↩
Astellas Integrated Report 2025, p.19, "Natural Capital," (FY2025) ↩
Astellas Changing Tomorrow Integrated Report 2023, p.24, "The 'VALUE' Astellas Provides," (FY2023) ↩
Astellas Integrated Report 2024, p.24, "Value Creation Story," (FY2024) ↩
Astellas Integrated Report 2025, p.2, "Astellas' Corporate Philosophy and VISION," (FY2025) ↩