April 26, 2007

Takeda Pharmaceutical Company Limited

Takeda to Transfer its Business of Leasing of Office Building to the Consolidated Subsidiary by Corporate Demerger

OSAKA, JAPAN, April 26, 2007 --- Takeda Pharmaceutical Company Limited ("Takeda") today announced that Takeda and its wholly owned subsidiary, Takeda Pharmaceutical Real Estate Company Ltd. ("Takeda Estate") approved at their respective Board of Directors' Meetings the demerger transferring Takeda's business of leasing of office building to Takeda Estate.

1. Objective
This demerger is to establish further business efficiency of the real estate business within Takeda Group.

2. Outline of Demerger

(1) Schedule

April 26, 2007	:	Board of Directors' Meetings of Takeda and Takeda Estate
April 26, 2007	:	Execution of the demerger agreement
July 1, 2007	:	Scheduled date of demerger

(Note: Pursuant to the provisions of Article 784-3 of the Corporate Law of Japan, Takeda is not required to obtain the approval of its shareholders' meeting.)

(2) Procedures

Takeda will conduct a corporate demerger in order for Takeda Eststate to succeed its business of leasing of office building

(3) Allocation of shares

Upon this demerger, all the shares issued by Takeda Estate will be allocated to Takeda and there will be no cash payment

(4) Change in paid-in capital

There will be no decrease in paid-in capital of Takeda.

(5) Rights and obligations to be succeeded by Takeda Estate

Upon scheduled demerger, Takeda Estate will succeed from Takeda all the assets and liabilities necessary for conducting the relevant business, and other rights and obligations with regard to the above.

(6) Fulfillment of obligations

It is assessed that there will be no uncertainty in fulfillment of obligations upon demerger at the both Takeda and Takeda Estate.

3. Outline of companies

	(as of March 31, 2006)	(as of April 26, 2007)
(1)Business Name	Takeda Pharmaceutical Company Limited (demerged company) (Note 1)	Takeda Pharmaceutical Real Estate Company, Ltd. (succeeding company)
(2)Description of Business	Manufacture and sales of pharmaceuticals	Lease, sales and purchase of land and buildings
(3)Date of Incorporation	January 29, 1925	June 26, 2007
(4)Address of Head Office	1-1, Doshomachi 4-chome, Chuo-ku, Osaka	1-7, Nihonbashi honcho 2-chome, Chuo-ku, Tokyo
(5)Company Representative	Yasuchika Hasegawa, President	Kazuomi Suzuki, President
(6)Paid-in capital	63,541 million yen	100 million yen
(7)Number of issued shares	889,272,395	10,000
(8)Shareholders' Equity	2,348,429 million yen	(Note 2)
(9)Total Assets	3,042,294 million yen	(Note 2)
(10)Fiscal Year End	March 31	March 31
(11)Number of Employees	15,069	29
(12)Main shareholders and their shareholding Ratio	Nippon Life Insurance Company: 6.34% Japan Trustee Services Bank, Ltd. (Trust account): 5.93%	Takeda Pharmaceutical Company Limited:100.00%
	The Master Trust Bank of Japan, Ltd. (Trust account): 4.43%
	State Street Trust & Banking Co., Ltd. 505103: 2.45%
	The Chase Manhattan Bank, N.A. London: 2.40%
(13)Net Sales and Net Income of the latest fiscal year	Fiscal year ending March 31, 2006	(Note 2)
	Net Sales: 1,212,207 million yen
	Net Income: 313,249 million yen

(Note 1): Financial figures of Takeda are consolidated basis.
(Note 2): On April 1, 2007, Takeda's former wholly owned subsidiaries which were;
Daiwa Estate Company, Ltd., Shinwa Estate Company, Ltd. and Takeda Pharmaceutical Real Estate Company, Ltd. merged, and the succeeding company (Daiwa Estate Company, Ltd.) changed its business name to Takeda Pharmaceutical Real Estate Company, Ltd., as announced on January 31, 2007. Therefore, Takeda Estate, succeeding company of this demerger, has not yet finished its first fiscal year after the merger
mentioned above.

4. Outline of demerged business

(1) Demerged business

Leasing of the three office buildings:
TS Tower (Higashi Shinagawa 4-chome, Shinagawa-ku, Tokyo)
IT Building (Muromachi 3-chome, Chuo-ku, Tokyo)
TNK Building (Doshomachi 1-chome, Chuo-ku, Osaka)

(2) Operation results of the demerged business

Net sales of fiscal year ending March 2006: 1,796 million yen

(3) Demerged assets and liabilities (as of September 30, 2006)

Current assets	:	0 million yen
Fixed assets	:	22,865 million yen
Current liabilities	:	0 million yen
Long-term liabilities	:	6,324 million yen

5. Impact on Takeda

(1) Outline

There will be no change in business name, description of business, address business, address of head office, company representative, paid-in capital, fiscal year end.

(2) Consolidated financial results

Immaterial impact will be incurred from this demerger paid-in capital, because Takeda Estate is a wholly owned subsidiary ofTakeda.

# # #