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## rEduCiNG ENvirONMENTal iMpaCT 

## Are there any points that should be considered with regard to environmental activities? 

Mr. Goto: I believe that companies developing business globally must be aware of water issues; that is, they must pay close attention to using water resources efficiently. There are many water- stressed* regions overseas. Most multinational companies already understand this point and are responding to water issues. Furthermore, stead- fast efforts to reduce energy usage are needed to address climate change mitigation measures. 

astellas:  In our case, industrial-use water sourced from Japan accounts for 97% of our water withdrawal in R&D and manu- facturing activities. Therefore, it is unlikely that water with- drawal will pose any major issues for us in the near future. However, we must give due consideration to water resource issues when moving into developing countries going forward. 

* Water-stressed: Refers to a condition where the water available for use per person is below a certain threshold, causing inconveniences in daily life. 

## iN ClOSiNG 

## Are there any other issues besides those discussed so far that Astellas should address? 

dr. aikawa:  Business customs can differ, particularly among emerging countries. For this reason, I believe that it is crucial to conduct business activities with an even higher awareness of compliance in these countries. 

Mr. Goto:  Approaches to facilitation payments* can differ among different countries, creating an extremely vexing prob- lem. The question of how to address this problem as a global enterprise is an issue that demands real decisiveness on the part of companies. On a slightly different note, approaches to CSR-related investment have been changing considerably. Until now, CSR-related investment had been fairly limited in scope. Under the Socially Responsible Investment (SRI) approach, a limited number of investors actively invested in companies that were recognized to be fulfilling their social responsibilities. Investments were selected from among a group of investment target companies that had been screened by market research firms from the standpoint of CSR. However, we are now seeing more Environment, Soci- ety and Governance (ESG) investment activity. Under this approach, investors proactively base investment decisions on a company’s CSR activities, particularly its ESG activities, in order to execute long-term, stable investments. This trend is 

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Business customs can differ, particularly among emerging countries. for this reason, i believe that it is crucial to con- duct business activities with an even higher awareness of compliance in these countries. (dr. aikawa) 

starting to show signs of catching on more widely in the stock market. Notably, ESG investment appears to now represent around half of the total investment in the stock markets in Europe. It may be helpful to keep these sorts of changes in mind when communicating with stakeholders outside the Company. 

Ms. kuroda:  Astellas already seems to be taking a variety of interesting initiatives, such as measures to improve access to healthcare in developing countries and to accept research fellows from developing countries. I would recommend com- municating these initiatives using a story line that is easier for readers to understand, such as organizing measures around the MDG’s agenda. 

astellas:  Through this dialogue, Astellas increased its under- standing of what society expects of the Company and its main issues. At the same time, we obtained many valuable insights. The dialogue reaffirmed to us the importance of strengthening stakeholder engagement. We are currently reviewing our CSR issues in terms of their materiality and examining specific CSR measures. We intend to utilize and incorporate the opinions expressed in this dialogue session. 

* Facilitation payments: In certain countries and regions, the Company is required by public officials and others, although not by relevant laws, to pay a small fee in order to receive smooth public service operations such as customs, inspections and issuance of entry visas. 

For information about communication with our stakeholders, please visit the following website: 

http://www.astellas.com/en/csr/communication/ 

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