September 28, 2007

Deutsche Securities
Japan Pharmaceutical Conference 2007

Hideaki Matsui
Executive Vice President(Representative Executive Officer)
Management Affairs, Human Resources
Eisai Co., Ltd.

Safe Harbor Statement•

Materials and information provided during this presentation may contain socalled “forward-looking statements.” These statements are based on current
expectations, forecasts and assumptions that are subject to risks anduncertainties which could cause actual outcomes and results to differ materiallyfrom these statements.

•Risks and uncertainties include general industry and market conditions, andgeneral domestic and international economic conditions such as interest rateand currency exchange fluctuations. Risks and uncertainties particularly apply
with respect to product-related forward-looking statements. Product risks anduncertainties include, but are not limited to, technological advances and patents
attained by competitors; challenges inherent in new product development,including completion of clinical trials; claims and concerns about product safety
and efficacy; obtaining regulatory approvals; domestic and foreign healthcare
reforms; trends toward managed care and healthcare cost containment; andgovernmental laws and regulations affecting domestic and foreign operations.

•Also, for products that are approved, there are manufacturing and marketingrisks and uncertainties, which include, but are not limited to, inability to build
production capacity to meet demand, unavailability of raw materials, and failure
to gain market acceptance.

•The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future eventsor otherwise.

September 28, 2007

2

Potential Challenges forManagement at Pharmaceutical
Company in the 21st Century•• Lack
Lackofofmaterials
materialsfor
forpharmaceuticals
pharmaceuticals•• Increasing
Increasingdifficultydifficultyin
inconducting
conductingclinicalclinicaltrials
trials•• Medical
Medicalcontribution
contributionthroughthroughnew
newtechnology
technologyand
andprovision
provisionofofpharmaceuticals
pharmaceuticalsat
atlow
lowprice
price•• Requirement
Requirementof
ofcontinuous
continuousinvestment
investmentin
infuture
futuregrowth
growthwhile
whileincreasing
increasingP/L
P/Lcostcostburden
burdenininnearneartermterm•• Shift
Shiftfrom
fromP/L
P/LManagement
Managementto
toValue
ValueCreation
CreationManagement
Management•• RequirementRequirementfor
forcontinuous
continuousgovernancegovernancerevolution
revolutionpriorpriortotoexternal
externalenvironmental
environmentalchanges
changes

September 28, 20073

System for Achieving
Increased Corporate Value
Shareholders

Board ofDirectors
System for governance

Executing
Division
President andCEOSociety

Executive
Officers
Employees

September 28, 2007

 Recognition of shareholdervalue Investment in innovation
 Investment for growth Maximize performance ofexisting products
4

System for Achieving Shareholder Value (1)Committee Members
Nov 1999
June 2000

Established Compliance Committee
Introduced Executive Officer System andselected outside directors
Established Corporate Governance Committee

Mar 2001

Established Corporate Governance Guideline(Revised as needed afterwards)

Jun 2003

Separated the roles of Chair of the Board andPresident and CEO
Added Corporate Concept in the articles ofincorporation

Jun 2004

Adopted a “Company with Committees System”

Jun 2005

Appointed an outside director to the post of
Chair of the Board

Sept 2005

Established Special Committee

Feb 2006

Established Independent Committee of Outside
Directors

September 28, 2007

Committee

DirectorOutsideDirectorChair

NominatingCommittee

3-3Outside
Director

Audit Committee

523OutsideDirectorCompensation
Committee

3-3OutsideDirector

Independent
Committee ofOutside Directors

7-7OutsideDirector5

System for Achieving Shareholder Value (2)Policy for returning to shareholders
DOE (%)

Fiscal
Year

ROE
(%)

DPR
(%)

Results

Target

1995

8.7

20.2

1.8

2.0

2000
2001
2002
2003
2004
2005
2006
2007

6.9
10.3
10.9
12.4
12.6
13.0
13.2

29.2
23.3
22.6
20.9
29.0
40.6
48.8

2.0
2.4
2.5
2.6
3.7
5.3
6.4

Announced 3(13.3)(49.4)-(6.5)

2011(16.0)(50.0)(Target)(approx.)(approx.)-(8.0)(plan)

September 28, 2007

Announced 5

ShareRepurchase(Billions of yen)

13.9
9.2
11.4
6.1

Announced 8

11.1(approx.)-Cash andCashEquivalents(Billions of yen)

106.3
121.8
127.3
146.1
142.4
183.3
171.1
(130.0)(approx.)Equivalent to2 month sales(approx.)6

January, 1994 Issue of “Pharmacia”
Dreamer in a pharmaceutical company
in the 21st century - Haruo Naito
Q: What does Eisai want to achieve?
What does Eisai do?

A: Eisai wants to create a dream andgive hope to patients
Added Corporate Concept to Article 2 ofIncorporationSeptember 28, 20077

Corporate Concept toArticle 2 of Incorporation(1) The Company’s corporate concept is to give first thought to patients and theirfamilies, and to increase the benefits that health care provides. Under this concept,
the Company endeavors to become a human health care (hhc) company.
(2) The Company’s mission is the enhancement of patient satisfaction. The Company
believes that revenues and earnings will be generated as a consequence of thefulfillment of the mission. The Company places importance on this positive
sequence of the mission and the ensuing results.
(3) Positioning compliance, the observance of legal and ethical standards as a core in
all business activities, the Company strives to fulfill corporate socialresponsibilities.
(4) The Company’s principal stakeholders are patients, customers, shareholders andemployees. The Company seeks to foster a good relationship with stakeholders
and to enhance their value through making the following efforts:
1. Satisfying unmet medical needs, ensuring stable supply of high quality
products, and providing useful information of safety and efficacy.
2. Timely disclosure of corporate managerial information, enhancement ofcorporate value, and proactive return to shareholders.
3. Ensuring stable employment, offering challenging and fulfilling duties,
and providing full opportunities for the development and enhancement ofemployees’ capabilities.
September 28, 2007

8Governance Accounting
FY2006
Ｐ／Ｌ

Balance Sheet

Total Sales: 674.1 Billion Yen

Total Assets: 792.1 Billion Yen (as of March, 2007)

Customers,
Business Partners
20%

Patients
62%
Sales
100%
Employees
19%
Government 6%

Shareholders
14%

Financial Assets
37%
Employees 6%
Government 3%

Account
Receivable
21%
Inventory Assets 7%
Buildings andMachineries, etc.
15%
Intangible Assets 8%

Shareholders
株主様71%

Short-term
Return(Dividends)
Long-term
Return(Investments)

Deferred Tax Assets 8%

September 28, 2007

Others 5%

9Active Investments
for the Next Decadetnemtsevn
I
ActiveDramatic Leap Plan
September 28, 2007

Further Leaping10