Chapter 5 Corporate Governance coRPoRATE GoVERnAncE Astellas strives to improve its corporate governance system based on the basic policy of maximizing its enterprise  value, improving business transparency and fulfilling accountability requirements to society. Basic Policy on Corporate Governance Corporate Governance Systems and Measures ■  Board of Directors Corporate Governance at Astellas The Astellas business philosophy comprises three elements—Raison d’être, Mission and Beliefs. The   Company’s Raison d’être is to contribute toward improving  the health of people around the world through the provision  of innovative and reliable pharmaceutical products. Our  Mission is to achieve sustainable enhancement of our  enterprise value. And our four Beliefs—a high sense of  ethics, customer focus, creativity and competitive focus—  underpin our Code of Conduct. The Company has established the “Charter of Corporate  Conduct,” which states this business philosophy in concrete  terms of specific business conduct, and the “Astellas  Global Code of Conduct” as basic compliance rules that  are common throughout the group. By adhering steadfastly  to these principles and standards, we strive to earn the  support and trust of all stakeholders. The Company has put into place a Corporate Executive  System. This system clearly separates the roles of the  Directors, who are in charge of management decision  making and supervising business execution, from the roles  of the Corporate Executives, who are in charge of business execution. With respect to the Board of Directors, it now comprises  seven members, including four outside Directors, in order  to promote decision-making and supervise business exe- cution from a broader viewpoint, and it meets once every  month as a general rule. Directors are elected at the annual  General Shareholders’ Meeting. In the interest of clarifying  management responsibilities and strengthening corporate  governance, each Director is elected for a one-year term. At Astellas, the Nomination Committee and the Compensation Committee serve as advisory bodies to the  Board of Directors. Outside Directors account for the  majority of members on these committees. These commit- tees ensure the transparency and objectivity of the delib- eration process for the nomination and the compensation  system of Directors and Corporate Executives. General Shareholders’ Meeting Accounting  Auditors Accounting Audits Internal Auditing  Department Board of Corporate Auditors 4 Auditors (including 2 outside Auditors) Board of Directors 7 Directors (including 4 outside Directors) Nomination  Committee Compensation  Committee Departments and Group Companies IR Committee CSR Committee Global Compliance Committee Risk Management Committee Executive  Vice President Corporate Administration & Finance Committee Report/ Coordination Corporate Executives / Functional Heads President and CEO Audit/  Report Consultation/ Recommendation Consultation/ Recommendation Election/ Dismissal Election/ Dismissal Election/ Dismissal Appointment/ Removal Report Report Internal audit Report Direction Coordination Coordination Report Report Report Report Report Report Direction/ Notification Proposal/Report Appointment/Removal, Supervision Appointment/Removal, Supervision Proposal/Report Proposal/Report Direction/Supervision Direction/Supervision Proposal/Report Report Execution/Direction/Supervision Report Global Human  Resources Committee Global Management  Committee Astellas Pharma Inc.  _ Annual Report 2014 76