00 43510 6

1

Transformation into a New Takeda

Yasuchika Hasegawa President & CEO

November 4, 2011

1

Vision: 2015 and Beyond

Innovation

Globalization

Culture/

Diversity

Growth

● Takeda will drive long-term growth through continuous

innovation and cultural transformation

● Nycomed acquisition accelerates Takeda’s transformation

toward a truly global company

2

2

2011 2012

Transition Management

Planning

Getting to know

one another

Maximize both

companies

strengths

Management

Guiding

Principles

Vision for Future

Execution

Planning

Respect & Learn

The Transformation Plan into a New Takeda

Fine Tuning

Organizational/

personnel structure

for Day 1 and

beyond

Timeline toward a New Takeda

Three phases of transition:

1) “Transition Management Planning” phase until Closure of the acquisition

2) “Respect & Learn” phase in the 12 months following Closure

3) “Fine-tuning” phase in the 24 months following completion of Respect &

Learn phase

The Confirmed Strengths of Nycomed through

the Transition and Integration Process

● Strong business momentum/growth in emerging countries

e.g. Russia/CIS, Brazil, and China

● High quality talent pool

● Quick decision making / Entrepreneurship

● Lean organization / Tight cash management

● Low cost / Multiple products production

Our expectation has been more than met

3

3

Growing Performance in Emerging Markets

4

Net Revenue* (Apr-Sep, 2010):

€1,404MM

Strong growth power in emerging markets drives whole Nycomed performance

3.6% Increase in Net Revenue*

Net Revenue* (Apr-Sep, 2011):

€1,454MM

*Excludes extraordinary factors (Income from selling out Imaging Business in 1H FY2011)

Re-stated at FY2011 2H Plan rate to exclude the effect of exchange rates

16.6% Increase

in Net Revenue

in Emerging Markets

Russia-CIS

5

• 20 years to build – only organic growth

• Today Nycomed is among the leaders in

all CIS Markets (11 countries)

– A 600 million EURO net revenue in 2011

– Market share in Russia is 3.2% in value ranked

at #8

– Nycomed is the fastest growing corporation in

Top 10 companies by value

Realization of further growth by securing

speed to market and the successful launch

of the high potential Takeda products

– CV/Metabolic (Azilsartan, Alogliptin)

– Oncology (Adcetris, Mepact, Leuprorelin)

– CNS (Ramelteon, Lurasidone)

– Renal (Peginesatide)

12.4%

21.1%

(RUB)

Nycomed has outperformed

the market in Jan-Jun 2011

Total market Nycomed

0

100

200

300

400

500

600

700

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

In-licensed products

Nycomed own products

4 8 %

52 %

Historical Sales of Nycomed Russia CIS

4

Guiding Principles for Organizational Change

6

● Top priority is to maintain Nycomed’s momentum

● Aiming for stronger growth momentum and global reach,

not primarily cost synergies

● Aiming for qualitative growth with quantitative growth

through development and diversification of talent,

improvement of R&D productivity, and enhancement of

marketing power

● Focusing and building organizational capability as a global

company for sustained excellence into the next century

7

At The New Takeda…

Empowerment

● Employees and teams are empowered at all levels of the business by providing global experiences and the ability for timely decision-making

Valuing Diversity

● A workplace built around diverse individuals and ideas, that inspires employees, and that allows each individual the same level of opportunity to reach their full potential

Learn & Grow ● A workplace that fosters mutual respect and learning as part of a culture

that believes “employees’ personal growth drives the growth of the company”

Ownership & Pride ● A workplace where individual employees feel they are critical players in

making a difference and are focused on improving patients’ quality of life

5

Financial Forecast

● Forecast for FY2013 of Takeda/Nycomed fundamental

business is not changed from the announcement of the

Nycomed transaction on May 19, except currency

exchange effect

● Takeda and Nycomed combined performance and

integration synergies will ensure our return to a path of

sustained growth.

● Consistent dividend per share of ¥180 during 2011-2013

8

Nycomed: a Takeda Company

Dr. Frank Morich Member of the Board

November 4, 2011

6

10

Integration Achievements to Date

Integration process started on Oct. 1, 2011 following

the deal close

● Nycomed post-close organization structure determined and announced

● Direct reports to CEO named including legacy Takeda and legacy Nycomed

executives – retaining key talent

● Commercial country leaders named covering all the countries globally

(approximately 70), including legacy Takeda and legacy Nycomed country

leadership

● Transition teams executing integration plans completed during pre-close

phase

● On track to achieve top and bottom line synergy and value creation

projections

● Positive business momentum continues and legacy Nycomed organization

on track to outperform projections

Nycomed’s Net Revenue in FY2011 Demonstrates

Continuity

11

(€MM)

(YoY +3.6%)

0

(YoY +7.5%)

Net Revenue (Excludes extraordinary factors*)

● Net revenue of FY2011 in 1H (actual)

and 2H (estimate) to be an increase

from the same periods last year

● We will continue to accelerate the

momentum of Nycomed

FY2011 1H (Actual)

FY2011 2H (Estimate)

•Receipt of Daxas milestone from Forest in 2H 2010 and

income from selling out Imaging Business in 1H 2011

1H : April-September

2H : October-March

Re-stated at FY2011 2H Plan rate to exclude

the effect of exchange rates

** Excludes extraordinary factors

(€MM) FY11

1H(A)

YoY

(%)

FY11

2H(E)

YoY

(%) FY11

Total(E)

YoY

(%)

Net

Revenue** 1,454 +3.6% 1,580 +7.5% 3,034 +5.6%

Total Net

Revenue 1,480 +5.4% 1,580 -1.3% 3,060 +1.9%

7

Expected to Outperform Projections

12

● Legacy Nycomed - FY2011 revenue and profit are expected to

outperform original projections

€ MM FY2011

(LBE)

vs. original

projections

Net Revenue* 3,034 +

EBIT 175 +++

EBITDA 660 ++


the effect of exchange rates ＊Excludes extraordinary factors

Nycomed’s Geographical & Portfolio-based Sales

13

● Growth in emerging markets compensates for the challenging market in Europe and exposure in emerging market business reached 45%

● Portfolio is well adapted to global market diversity

Geographical Breakdown of

Net Revenue (FY2011 1H)

Portfolio-based Breakdown of

Net Revenue (FY2011 1H)

EUCAN * 45.5%

Others 9.4%

META** 3.3%

Latin America6.2%

Brazil 7.9%

South Asia4.4%

North Asia6.0%

Russia/CIS 17.3% Regional and

local Rx

€477MM

(+14.1%)

Other Key

Products

€389MM (+7.5%)

Pantoprazole

€395MM

(-9.5%)

Other

OTC

€180MM

(-2.9%)

Daxas

€13MM (new)

(Excludes extraordinary factors)

* EUCAN: Europe, Canada

** META: Middle East, Turkey, Africa,

(Excludes extraordinary factors)

Emerging

Markets total:

45%



8

Mature Markets (EUCAN)

14

500

600

700

2011 Apr-Sep 2011Oct-Mar

(€MM)

0

662 (YoY -3.6%)

665 (YoY -2.6%)

FY2011 1H (Actual)


● Slight drop in revenue vs PY as

a result of the fall in the sales of

Pantoprazole

● Specialty Brands continue to

drive growth

● Sales in mature markets are plateauing as expected



Growth Opprtunities in Europe

(€MM)

Italy

Germany

France

UK

Italy

Germany

France

UK

Spain

Netherlands

2011 1H Sales:

€1,084MM

Switzerland

Austria

Austria

468 468

616

Takeda New Takeda

Norway

Poland

Finland

Belgium

Sweden

Switzerland

Note: Sales consists of local subsidiaries excluding licensee revenues

Denmark

15

● Takeda, combining Nycomed, now is ready to realize the growth in

Europe capable of capturing the opportunities

Takeda

Legacy Nycomed

9

● In emerging markets, net revenue will continue to increase through

sales of Pantoprazole and other Key Products

Emerging Markets

400

500

600

700

800

2011 Apr-Sep 2011Oct-Mar

(€MM) 800

(YoY +22.3%)

16

0

Region (€MM) FY2011 1H YoY

Russia/CIS 252 +3.1%

Latin America 91 +18.9%

Brazil 115 +6.5%

META 48 +11.5%

South Asia 64 +6.7%

North Asia 87 +176.6%

Total 656 +16.6%

656

(YoY +16.6%)

FY2011 1H Breakdown by Region

FY2011 1H (Actual)


● Pantoprazole +16%

● Other Key Products +6%



17

The Integration Process

Respect & Learn Transition Management

Planning Fine-tuning

▪ Design operating and

governance model toward

closing

▪ Develop post-close

implementation and value

creation plans

▪ Prepare HR approach

(e.g., retention plans)

▪ Implement integration

plan and value capture

plans

▪ Ensure business

continuity

▪ Design and implement

longer term operating

model

▪ Finalize integration

▪ Integrate remaining

functions

▪ Capture additional

revenue opportunities

Key

Objectives

+6 - 12 months +24 months Closing Day (1st Oct)

● Following the deal close on September 30, 2011, the full implementation of the integration plan started in October 2011

● We aim to finalize the integration approximately 24 months following completion of Respect & Learn phase

10

18

Strategic Priorities for Future Growth

● Make our business model more efficient and effective to fund growth

Strategic priorities

Expand presence in rapidly growing

markets

Invest heavily in new and innovative

products

Empower regions and countries to

develop strategies and portfolios that

best serve their markets

Drive value through a strong combined

portfolio in Latin America, Middle East, Turkey

& Africa, South Asia, North Asia, Russia/CIS

Adapt combined portfolio to regional/local

market needs and complement with

regional/local tailored BD opportunities to

further expand portfolio

Description

Ensure success of the strong pipeline in areas

of Metabolic, Oncology, CNS,

Immunology/Inflammatory, GI and Respiratory

19

● Realize top line synergies for Takeda’s product portfolio and pipeline

through maximizing legacy Nycomed’s…

– Commercial infrastructure, particularly in high growth emerging markets TAK-390MR (DEXILANT*, for GERD, *trade name in the US)

TAK-491 (EDARBI*, for hypertension, *trade name in the US)

SYR-322 (NESINA*, for type 2 diabetes, *trade name in Japan)

TAK-700 (generic name: orteronel, for prostate cancer)

peginesatide (for anemia associated with CRF)

lurasidone (LATUDA*, for schizophrenia and bipolar disorder, *trade name in EU)

mifamurtide (MEPACT*, for nonmetatastic osteosarcoma, *trade name in EU)

brentuximab/vedotin (ADCETRIS*, for Hodgkin’s lymphoma/ALCL, *trade name in EU)

– Expertise in tailoring product mix to fit individual market requirements

– Incremental innovation expertise

● Annualized at least ¥ 30 billion of cost synergies in the third year after

closing – FY2014 have been confirmed

Realization of Integration Synergies

11

Second Quarter of Fiscal 2011

Consolidated Financial Results

Hiroshi Takahara Senior Vice President Finance & Accounting Department

November 4, 2011

Consolidated Financial Results for the Second Quarter of Fiscal 2011

21

[vs. 2Q of P.Y.]

billions of yen billions of yen billions of yen 〈％〉 billions of yen

Net Sales 714.0 702.5 - 11.5 〈-1.6〉 - 28.7

Gross Profit 563.4 542.9 - 20.5 〈-3.6〉 - 28.5

SG&A Expenses 217.6 212.9 - 4.7 〈-2.2〉 - 12.7

183.3 182.0 - 1.4 〈-0.7〉 - 9.2

R&D Expenses 124.2 119.0 - 5.2 〈-4.2〉 - 6.0

Operating Income 221.6 211.0 - 10.6 〈-4.8〉 - 9.9

256.0 242.1 - 13.9 〈-5.4〉 - 13.3

Ordinary Income 225.5 209.6 - 15.9 〈-7.1〉 - 9.6

Net Income 144.2 135.7 - 8.6 〈-5.9〉 - 5.7

168.5 157.6 - 10.9 〈-6.5〉 - 8.1

E P S 182.69 yen 171.85 yen - 10.84 yen 〈-5.9〉

213.50 yen 199.68 yen - 13.82 yen 〈-6.5〉

USD 89 yen 80 yen - 9 yen

EUR 114 yen 114 yen - 0 yen

excl. Extraordinary factors

excl. Extraordinary factors

Year-on-year change Currency

Translation

Effect

FY10 Actual

Apr - Sep

FY11 Actual

Apr - Sep

Exchange Rate

excl. Special income/loss & Extraordinary factors

excl. Special income/loss & Extraordinary factors

12

22

Consolidated Financial Results for the Second Quarter of Fiscal 2011

[vs. Original Forecasts]

billions of yen billions of yen billions of yen

- 17.5

CTE* - 18.4

- 16.0

CTE - 3.3

- 9.0

CTE - 4.4

- 10.4

CTE - 4.4

- 4.3

CTE - 2.6

USD 85 yen 85 yen 80 yen - 5 yen

EUR 120 yen 120 yen 114 yen - 6 yen

702.5

211.0 〈- 4.1〉

119.0

① ②③＝②－①

Apr - Mar Apr - Sep

Actual Actual vs. Forecasts

720.0

Apr - Sep

billions of yen <%>

③／①

〈- 2.4〉1,450.0

Original Forecasts (Jul)

Net Sales

220.0Operating Income

390.0

250.0

220.0 209.6Ordinary Income

395.0

R&D Expenses300.0 〈- 11.9〉

140.0 135.7Net Income

〈- 4.7〉

〈- 3.1〉

Exchange

Rate

135.0

*CTE stands for Currency Translation Effect

714.0702.5

+ 12.4

+ 0.6- 23.5

- 1.0

FY10Apr - Sep

Ethical Drug(Japan)

Ethical Drug(Overseas)

ConsumerHealthcare

Others FY11Apr - Sep

( )

Breakdown of Sales Increase/Decrease

by Business Segment

23

CTE - 28.5

(Unit: billions of yen)

VECTIBIX + 5.9 －

NESINA + 4.2 －

BLOPRESS + 3.2 〈+ 4.8%〉

ACTOS - 5.4 〈- 22.3%〉

Merchandise(excl. ENBREL) + 6.3 〈+ 10.6%〉

Leuprorelin + 3.7 〈+ 16.0%〉

DEXILANT + 3.1 〈+ 39.7%〉

VELCADE + 2.6 〈+ 10.0%〉

ULORIC + 2.0 〈+ 47.9%〉

Lansoprazole - 16.4 〈 - 39.8%〉

Pioglitazone - 19.1 〈 - 11.2%〉

ALINAMIN tablets + 0.3 〈+ 4.0%〉

BENZA(excl. drinks) + 0.2 〈+ 4.8%〉

*CTE stands for Currency Translation Effect

New products* launched during and after FY10 total + 18.5

*NESINA(incl. LIOVEL), UNISIA, VECTIBIX, ROZEREM, METACT,

ACTOS OD, LAMPION PACK, REMINYL, SONIAS

13

Consolidated Net Sales in Ethical Drugs

by Region

24

FY10 Apr-Sep FY11 Apr-Sep

Year-on-year change <%>

• + 17.5 <+ 2.7％>

Consolidated Net Sales in Ethical Drugs

- 11.0 <- 1.7％>

• - 3.0 <- 0.1％> Americas

- 24.2 <- 9.8％>

• - 1.1 <- 1.5％> Europe

- 3.1 <- 4.2％>

• + 2.8 <+ 25.2％> Asia and other regions

+ 2.4 <+ 21.6％>

Japan

+ 12.3 <+ 4.3％>

• + 3.8 <+ 17.0％>

Royalty Income and Service Income

+ 1.5 <+ 6.9％>


excl. Currency

Translation Effect

22.1 23.6

284.9 297.3

11.1 13.5 73.7 70.6

248.0 223.8

639.8 628.7

Sales of Major Products

25

FY10 FY11

Apr - Sep Apr - Sep

billions of yen billions of yen billions of yen 〈％〉

Pioglitazone 195.6 171.0 - 24.6 〈- 12.6〉 - 5.4 - 15.7 - 3.8 + 0.4

[excl. CTE -8.4] (CTE stands for Currency Translation Effect)

Candesartan 108.9 112.3 + 3.4 〈+ 3.1〉 + 3.2

[excl. CTE +5.1]

Lansoprazole 75.2 62.3 - 12.9 〈- 17.1〉 + 3.5 - 17.5 + 0.9 + 0.3

[excl. CTE -11.2]

Leuprorelin 56.0 60.9 + 4.9 〈+ 8.7〉 + 1.1 + 2.8 + 0.7 + 0.3

[excl. CTE +5.1]

VELCADE 25.6 28.1 + 2.6 〈+ 10.0〉 ― + 2.6 ― ―

[excl. CTE +5.8]

Sales in the U.S. ($MM)

< 352 > < 173 > <- 179> <- 50.9> Sales in the U.S. ($MM)

Regional Increase/Decrease (billions of yen)

< 287 > < 352 > <+ 65> <+ 22.6>

Overseas total +0.1

< 1,736 > < 1,740 > <+ 4>

Year-on-year change

Japan Americas EuropeAsia and

other regions

Sales in the U.S. ($MM) <+ 0.2>

14

221.6 211.0

+ 4.7 + 5.2

- 20.5- 10.6

FY10 Apr-SepOperating income

<A>Inc./Dec.

of Gross profit

<B>Inc./Dec.

of SG&A expenses

<C>Inc./Dec.

of R&D expenses

<A+B+C>Inc./Dec.

of Operating income

FY11 Apr-SepOperating income

Breakdown of Operating Income

Increase/Decrease

26

Gross Profit Margin - 1.6pt.

(FY10 Apr-Sep 78.9％→FY11 Apr-Sep 77.3％)


(- 4.8%)

Negative impact of the yen’s appreciation, etc Negative impact of the yen’s appreciation, etc

144.2 135.7

+ 7.4

- 10.6- 5.3 －

- 8.6

FY10 Apr-SepNet income

<A>Inc./Dec.

of Operatingincome

<B>Inc./Dec.

of Non-operatingincome / loss

<C>Inc./Dec.

of Extraordinaryincome / loss

<D>Inc./Dec.

of Taxes, etc.

<A+B+C+D>Inc./Dec.

of Net income

FY11 Apr-SepNet income

Breakdown of Net Income

Increase/Decrease

27

Consolidated effective tax rate

(FY10 Apr-Sep 35.4％→FY11 Apr-Sep 34.4％)


(- 5.9%)

15

Consolidated Cash Flow Summary

28


FY10 FY11

Apr - Sep Apr - Sep

Net cash provided by (used in) operating activities 149.1 161.7 326.9

Net income before income taxes and minority interests 225.5 209.6 371.6

Depreciation of tangible fixed assets and amortization of patents 43.9 49.9 92.6

Amortization of goodwill 7.3 6.6 14.1

Increase/decrease in working capital -16.9 -14.0 -9.2

Income taxes paid -65.6 -79.5 -141.8

Net cash provided by (used in) investing activities -62.6 -1,060.7 -99.3

Payment for acquisition of subsidiaries' shares － -1,029.6 －

Net cash provided by (used in) financing activities -73.1 463.7 -146.5

Net increase (decrease) in loans -0.3 569.8 -0.7

Dividends paid -71.0 -71.0 -142.1

Effect of exchange rate changes on cash and cash equivalents -60.3 -66.0 -60.9

Net increase (decrease) in cash and cash equivalents -46.9 -468.0 20.2

Cash and cash equivalents at the end of period 805.6 404.7 872.7

Ref: FY10

Apr-Mar

Acquisition cost 　EUR 9,600 M

Loan

5,100

Inventories　　1,015

DTL　- 154

Intangible assets

6,409

(incl. IPR&D　30)

DTL　- 1,736

Cash on hand

4,500Goodwill

3,283

Others　　783

Purchase Price Allocation of Nycomed

29

An increase due to the fair-

value evaluation will be

included in COGS

Amortization over

respective products will be

included in SG&A

(IPR&D will be amortized

after launch)

Amortization will be included

in SG&A in FY11

*DTL：Deferred tax liability

Impacts on P/L after 3rd Quarter

10 year for DAXAS,

15 year for others

based on straight-line method**

20 year amortization

based on straight-line method**

** The accounting treatment for the amortization method and

its duration will be fixed through the audit by our independent

auditor within one year from the acquisition date.

Fully amortized within FY11**

16

Effects on B/S from Nycomed Acquisition

30


excl. NycomedNycomed

impact (*)Total excl. Nycomed

Nycomed

impact (*)Total

Total Assets 2,670.6 828.6 3,499.3 Total Liabilities 569.9 884.3 1,454.2

incl. Cash on hand 866.5 - 460.5 405.9 incl. Loan and Debt 2.8 570.0 572.8

Inventory 135.6 105.7 241.3 Income tax 97.2 212.1 309.3

Intangible asstes(excl. Goodwill)

255.6 667.2 922.8

Goodwill 194.0 344.7 538.7

* [Assets, Liabilities and Net assets of Nycomed]+[Impact from the business combination accounting]+[Financing for Nycomed acquisition(use of cash and debt financing)]

Assets Liabilities and Net assets

Total Net Assets 2,100.7 - 55.6 2,045.1

1,450.0 - 80.0 - 53.0 + 170.0 － 1,540.0

300.0 - 18.0 - 13.0 + 12.0 + 1.0 295.0

390.0 - 55.0 - 16.0 + 12.0 - 77.0 270.0

excl. Extraordinary factors 440.0 - 45.0 - 20.0 + 28.0 - 3.0 420.0

395.0 - 60.0 - 16.0 + 12.0 - 77.0 270.0

250.0 - 30.0 - 6.0 + 8.0 - 58.0 170.0

excl. Special income/loss &

Extraordinary factors285.0 - 27.0 - 10.0 + 19.0 - 2.0 275.0

316.71 yen + 10.13 yen - 73.47 yen 215.36 yen

excl. Special income/loss &

Extraordinary factors361.05 yen + 24.07 yen - 2.53 yen 348.37 yen

**

***

Net sales

R&D Expenses

Operating Income

Ordinary Income

Net Income

E 　P　 S

The amount of valuation/allocation for Nycomed’s business combination and the accounting treatment

for the amortization method and its duration may be changed within one year from the acquisition

date, according to the business combination accounting standards. The final amount will be settled

through the audit by our independent auditor.

This forecasts doesn't include the synergy and the restructuring cost resulting from the Nycomed

acquisition. According to the progress of integration, we will update the figures.

- 38.01 yen

- 34.22 yen

FY11 Updated

Forecasts(unit: billions of yen)

FY11 Original

Forecasts (Jul)

Nycomed's

Business

Combination

Accounting **

Nycomed

Forecasts

(Oct-Mar)

Variance in business

excl. NycomedCTE*

31

Updated FY11 Forecasts

reflecting Nycomed Acquisition

USD = 85 yen

EUR = 120 yen

USD = 77 yen (75 yen for Oct-Mar)

EUR = 109 yen (105 yen for Oct-Mar)

* CTE stands for Currency Translation Effect

Details of Extraordinary factors(420.0-270.0=150.0）

COGS increase due to the fair-value evaluation

of inventories 57.0

Amortization of intangible assets 72.0

Amortization of Goodwill 21.0

17

Consolidated Net Sales in Ethical Drugs after

Nycomed Acquisition by Region

32

**Operating income and EPS ; excluding extraordinary factors

Debt financing for Nycomed Acquisition

and the estimate of debt repayment

0

200

400

600

Sep 2011 Oct 2011 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016

Debt Balance Estimate

Estimate to be repaid in 5 years

¥30B of repayment in Oct

Financed 570 billion yen in JPY bridge loan for Nycomed acquisition in September

Plan to refinance the bridge loan with long term debt within 1 year, fully enjoy current

favorable market condition, financing currency and instruments to be determined

Long term debt to be repaid by strong cash flow in 5 years

Estimate

Unit : billions of yen

570.0 540.0

33

18

Second Quarter of Fiscal 2011

Updates Related to R&D Activities

November 4th, 2011

Tadataka Yamada, M.D.

Member of the Board

Focus on R&D Productivity

Recent Pipeline Stage-Ups

Projected PDUFA Dates in the US

Ensure Approval of High-potential Pipelines

and Growth Drivers

35

TODAY’S AGENDA

19

Focus on R&D Productivity

36

Properly Value and

Maximize our assets

Aggressive In-licensing

Develop Vaccine Business

Maximize and

deliver the late

stage Pipeline -Properly Value and

Maximize our assets

-Flawlessly execute

development programs

Fill the Gap in

the Mid-stage

Pipeline

-Aggressively

In-license assets

-Rapidly assimilate

Nycomed portfolio

Invigorate

Discovery

-Motivate Scientists

-Assume

accountability

for POC&C

37

Recent Pipeline Stage-Ups

(Since July 29, 2011)

Prednisolone Multiple Myeloma Jpn

SYR-322 Diabetes mellitus Brazil

TAK-491 Hypertension Taiwan

Thailand

TAK-085 Hyperlipidemia Jpn

TAK-390MR Erosive esophagitis and non-erosive GERD

Brazil Hong Kong/Thailand

S. Korea/Taiwan

SYR-472 Diabetes mellitus Jpn

TAK-536 Hypertension (FDC with amlodipine) Jpn

SGN-35 Relapsed or refractory HL Relapsed or refractory sALCL

Jpn

TAK-375SL Bipolar disorder US

TAK-385 Endometriosis, Uterine fibroids Jpn

TAK-385 Prostate Cancer -

MLN2480 Solid Tumors -

AD4833/TOMM40 Alzheimer’s disease prevention US/EU

In September

In August

In August

In September

In September

In June

In August

In September

Ph1 Ph2 Ph3 NDA Approval

TAK-875

TAK-438

Diabetes mellitus

Acid-related diseases (GERD, Peptic ulcer, etc.)

US/EU/Jpn

Jpn

20

38

Projected PDUFA Dates in the US

FY2011

TAK-491

Hypertension

- Fixed-dose combination with

chlorthalidone

VELCADE Multiple Myeloma

- Subcutaneous formulation

SYR-322

Diabetes Mellitus

- Monotherapy

- Fixed-dose combination with Actos

Peginesatide Anemia associated with chronic renal

failure in adult patients on dialysis

December 24

2011

January 23

2012

January 25

2012

March 27

2012

Ensure Approval of High-potential Pipelines and Growth Drivers

FY11 FY12 FY13 FY14- FY15

39

TAK-700

• 17, 20 lyase inhibitor

• Non-steroidal

• Prostate cancer

MLN9708 • 2nd generation proteasome

inhibitor

• Orally administrable

TAK-875

• GPR40 agonist

• Diabetes

Peginesatide

• Synthetic ESA

• Once Monthly

• CKD-related anemia

SGN-35 (ADCETRIS*)

•Antibody-drug conjugate

• Hematological cancer *EU trade name

Lu AA21004

• Multimodal anti-depressants

• Mood and anxiety disorders

VELCADE (SQ) • The only proteasome inhibitor

currently approved

Roflumilast (DAXAS*)

•PDE4 inhibitor

• First in class for COPD *EU trade name

SYR-322 (NESINA*) •DPP-4 inhibitor

Higher selectivity *Japanese trade name

MLN0002

• Humanized antibody

• Selectively binding to α4β7

integrin

TAK-491 (EDARBI*) • Angiotensin II receptor blocker

• Stronger efficacy

*US trade name

TAK-390MR (DEXILANT*)

•Proton pump inhibitor

• Dual Delayed ReleaseTM

*US trade name

Lurasidone (LATUDA*)

Atypical antipsychotic *EU trade name (TBD)

TAK-438 • P-CAB

• Better efficacy

Regional specific products

21

2011/11/2

Forward-Looking Statements

This presentation contains forward-looking statements regarding the Company's plans, outlook,

strategies, and results for the future.

All forward-looking statements are based on judgments derived from the information available to the

Company at this time. Forward looking statements can sometimes be identified by the use of forward-

looking words such as "may," "believe," "will," "expect," "project," "estimate," "should," "anticipate,"

"plan," "continue," "seek," "pro forma," "potential," "target, " "forecast," or "intend" or other similar

words or expressions of the negative thereof.

Certain risks and uncertainties could cause the Company's actual results to differ materially from any

forward looking statements contained in this presentation. These risks and uncertainties include, but

are not limited to, (1) the economic circumstances surrounding the Company's business, including

general economic conditions in the US and worldwide; (2) competitive pressures; (3) applicable laws

and regulations; (4) the success or failure of product development programs; (5) decisions of

regulatory authorities and the timing thereof; (6) changes in exchange rates; (7) claims or concerns

regarding the safety or efficacy of marketed products or product candidates; and (8) integration

activities with acquired companies.

We assume no obligation to update or revise any forward-looking statements or other information

contained in this presentation, whether as a result of new information, future events, or otherwise.