February 27, 2006

House Foods Corporation
Takeda Pharmaceutical Company Limited

House Foods and Takeda To Conclude a JointVenture Agreement about Takeda Food Products

"HOUSE WELLNESS FOODS CORPORATION" Starts Operationin April 2006

House Foods Corporation ("House Foods") and Takeda Pharmaceutical Company Limited ("Takeda") announced today that both parties have concluded an agreement to establish a new joint venture "HOUSE WELLNESS FOODS CORPORATION ("new company")". All the business of Takeda Food Products, Ltd. ("Takeda Food") will be transferred to this new company, while the conclusion of the agreement this time follows a basic agreement of both parties announced on December 26, 2005, and subsequent approval by The Japan Fair Trade Commission in view of the antimonopoly act.

House Foods and Takeda will own 66% and 34% of the shares of the new company respectively, and it is scheduled to start its operation in April 2006. Eighteen months later, House Foods will acquire 34% shares owned by Takeda and the company will become a wholly owned subsidiary of House Foods.

The new company will be positioned as one of the core business units in the health food business of House Foods, and the synergy effect is expected from the fusion of Takeda Food' development ability centered on vitamin products and House Foods' food-processing technology.

＜Profile of a new company＞

1.Company Name	:	HOUSE WELLNESS FOODS CORPORATION
2.Representative	:	Executive President: Koji Nagamine
		(President, Takeda Food)
		Executive Vice President: Miyoshi Tokumitsu
		(Managing Director, House Foods)
3.Capital	:	100 million yen (House Foods: 66%, Takeda: 34%)
4.Date of Foundation	:	April 3, 2006
5.Location of Head Office	:	Itami city, Hyogo
6.Number of Employees	:	Approximately 300

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