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January 27, 2000

Company Name Taisho Pharmaceutical Co., Ltd.
Head Office 3-24-1 Takada, Toshima-ku, Tokyo
Representative Director
(name and title)
Akira Uehara, President (First Section of the Tokyo Stock Exchange: Ticker Code 4535)
Management Contact Takayuki Kagami, Accounting Division Trustee
TEL 81-3-3985-1111 (switchboard)

Notification of Treasury Stock Purchase

Today, in accordance with Section 3 of the Commercial Code governing the retirement of shares, we announce the retirement of common stock into the Company's treasury stock fund. The method for purchasing of treasury stock is described below.

1. Purchase of Treasury Stock
(1) Type of stock : Taisho par-value common stock
(2) Amount of stock : 2,200,000 shares (upper limit)
(3) Total value of stock : 8,140,000,000 yen (upper limit)

2. Method of Purchasing Treasury Stock
Taisho will purchase shares for placement into trust on January 28, 2000, via ToSTNeT-2 of the Tokyo Stock Exchange at 8:45 am at today's (January 27) closing price of 3,150 yen (time and details of the purchase will not be altered). The purchase order is limited to the specified transaction time.

(1) Type of stock purchased : Taisho face-value common stock
(2) Target amount of stock to purchase : 2,200,000 shares

Note 1: The number of outstanding shares will not change. Depending on market fluctuations, the order may be partially or completely cancelled.
Note 2: Current stockholders have contacted Taisho to offer their holdings for retirement in accordance with the terms indicated above; these shares will be included in the exchange.

(3) Release of Results: The results of the transaction will be announced upon its completion, which is scheduled to occur at 8:45a.m., January 28, 2000.

Total amount of stock that may be retired, under the Articles of Association: 34,000,000 shares.
Number of shares retired since the date the Articles of Association were created: 0 shares.