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| November 1, 2000 |
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| Start of merger talks between Welfide Corporation
and Mitsubishi-Tokyo Pharmaceuticals |
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Welfide Corporation
Mitsubishi-Tokyo Pharmaceuticals, Inc. |
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Welfide Corporation (Head office: Chuo-ku, Osaka; President:
Shinichiro Handa) and Mitsubishi-Tokyo Pharmaceuticals (Head office: Chuo-ku,
Tokyo; President: Ryuichi Tomizawa) have agreed to commence studies into a merger
in equal spirits based on mutual respect, hopefully taking place for October 1,
2001.
Both companies are aware of the need to achieve appropriate business scale and
strengthen management bases to meet a harsh business environment facing the pharmaceutical
industry and to overcome increasingly stiff competition from abroad. Both companies
have been looking for respective strategies up until now, but have now reached
an agreement to examine the merger between the two.
Yoshitomi Pharmaceutical Industries, Ltd., the predecessor of Welfide Corporation,
was founded by Takeda Chemical Industries, Ltd. and Mitsubishi Chemical Corporation
(formerly Nihon Kasei Kogyo), the parent company of Mitsubishi-Tokyo Pharmaceuticals.
A close relationship therefore exists between the two firms. This close relationship
is also seen on the business front, in which the hypertension and angina drug
Kerlong manufactured by Mitsubishi-Tokyo Pharmaceuticals is sold by Welfide Corporation.
Outlines of the two companies are as follows.
Welfide Corporation
| 1. |
Head office |
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2-6-9 Hiranomachi, Chuo-ku, Osaka |
| 2. |
Founded |
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August 1940 |
| 3. |
Paid-in capital |
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21.3 billion yen |
| 4. |
Principal shareholder |
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Takeda Chemical Industries, Ltd. (11.98%) |
| 5. |
Annual sales |
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Approximately 199.1 billion yen (consolidated as of fiscal year
ended March 31, 2000) |
| 6. |
Main factory locations |
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Yoshitomi (Fukuoka), Osadano (Kyoto), Chitose (Hokkaido), Toyama
(Toyama), Yodogawa (Osaka) |
| 7. |
Laboratories |
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Osaka (Osaka), Tokyo (Saitama), Kyushu (Fukuoka), Fukusaki (Hyogo) |
| 8. |
Employees |
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Approximately 7,300 (consolidated as of March 31, 2000) |
Mitsubishi-Tokyo Pharmaceuticals
| 1. |
Head office |
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2-2-6 , Chuo-ku, Tokyo |
| 2. |
Founded |
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October 1999 |
| 3. |
Paid-in capital |
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15 billion yen |
| 4. |
Principal shareholder |
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Mitsubishi Chemical Corporation (100%) |
| 5. |
Annual sales |
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Approximately 89.5 billion yen (predicted for fiscal year ending
March 31, 2001) |
| 6. |
Main factory locations |
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Kashima (Ibaraki), Umeda (Tokyo), Ashikaga (Tochigi), Iwaki
(Fukushima), Kurosaki (Kitakyushu) |
| 7. |
Laboratories |
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Research Center (Yokohama and Chiba), Kashima (Ibaraki) |
| 8. |
Employees |
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Approximately 2,300 (as of March 31, 2000) |
| For further information, please contact |
| Public Relations and Investor Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81]-(0)3-6414-3730 |
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