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January 14, 2000

Licensing Pesticide Trademark Rights

Taisho Pharmaceutical Co., Ltd. (President: Akira Uehara) announced its decision to lease trademark rights for sales and manufacturing for Wiper brand pesticide. The Company retains these rights despite having ceased operations in the pesticide business in November 1999. Taisho will lease manufacturing rights to five companies, including Koike Chemicals, the company originally engaged to manufacture Wiper. The trademark rights regarding sales will be leased to Hakugen (President: Osamu Kamata). Details of the agreements are still being negotiated.

One of Taisho's new strategies for the 21st century was to cease production of pesticides and to withdraw completely from this business area. Upon announcing this initiative, we received a number of requests to use of our trademarks and for possible transfers of rights. Instead of selling-and completely abandoning-a brand name that we had worked very hard to develop, we felt that retaining the value of this asset was important. The decision to license the sales trademark rights arose from our desire to support the sales activities of the many manufacturers that had provided Taisho with support throughout our long involvement in the pesticide industry. Hakugen was chosen to receive our sales trademark rights because they share this outlook.

Hakugen is a leading manufacturer of household items and boasts such long-selling names as Ice Non cooling products, Hokkairo heating pads and Mrs. Lloyd clothing protection products. Since its establishment, the company has focused on providing comfort in day-to-day living through "daily care chemicals." The company has embarked on a five-year business renovation plan under the revamped marketing strategy slogan: "Even more peace of mind." New business development in pesticides will play a much larger role in Hakugen's future. Furthermore, Hakugen had finalized lead product groups for the spring, autumn and winter seasons, but did not previously have a strong summer seasonal offering. They will begin full business operations in pesticides in April, and will grow to become a strong and competitive industry force.