March 10, 2006
Company Name: KYORIN Co., Ltd.
Representative: Ikuo Ogihara,
Representative Director and President(Code:4569 TSE First Section)
Inquiries: Minoru Hogawa,
Executive Director, Director of Management Planning Department
TEL: +81-(0)3-3293-3414

On the Transition to a HoldingHolding-Company Structure
KYORIN group has already officially announced the decision to transition to aholding-company structure through a share exchange scheduled for March, 2006. We
announce the completion of this share exchange and the transition to aholding-company structure for KYORIN Co., Ltd. and KYORIN Pharmaceutical Co.,
Ltd. today, March 10.
1. Purposes of our transition to a holding-company structure
The Kyorin group changing to a holding company structure.

Further, byreorganizing the group’s units, the Kyorin group will build a system of managementthat will be able to make the “distinguished and integrated healthcare company” areality, positioning itself solidly as a global drug creator. The Kyorin group will seek toboost the competitiveness of its pharmaceutical business and aim to develop novel
businesses and to strengthen its business foundation.
KYORIN Co., Ltd. which will become a pure holding company through the shareexchange will take on the role, as the controlling company, as being responsible for thebusiness strategies of the overall group. By effectively allocating and utilizing its
managerial resources, KYORIN will draw out the strengths of the entire group andendeavor to boost the group’s consolidated result.
2. Listed contents
KYORIN Co., Ltd. has been listed on the First Section of the Tokyo Stock
Exchange. KYORIN Co., Ltd. has taken over the function of KYORIN PharmaceuticalCo., Ltd.

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3. Outline of KYORIN Co., Ltd.
Trade name: KYORIN Co., Ltd.
Description of business: A holding company that is to be in charge of all functionsof all KYORIN group companies centered on the affiliated companies that carry on
drug discovery and pharmaceutical business
Head Office: 5, Kanda Surugadai 2-chome, Chiyoda-ku, Tokyo
Representative: Ikuo Ogihara, President
Capital fund: 70 million yen
Accounting date: March 31
Number of employees: 71
Board members and auditors
Executive Director and Honorary Advisor: Minoru Ogihara
Also Honorary Advisor at KYORIN
pharmaceutical Co., Ltd.
Chairman:Hiroshi Uchida
Also Chairman atKYORIN pharmaceutical Co., Ltd.

President Chief Executive Officer: Ikuo Ogihara
Also President at
KYORIN pharmaceutical Co., Ltd.
Executive Director:

Itaru Kojo
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

Executive Director:

Toshiro Takusakawa
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

Executive Director:

Yoshizumi Amano
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

Executive Director:

Keiji Hirai
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

Executive Director:

Masahiro Yamashita
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

2Executive Director:

Minoru Hogawa
Also Executive Director at
KYORIN pharmaceutical Co., Ltd.

Senior Corporate Auditor:

Hiroyuki Fukashiro
Also Auditor at
KYORIN pharmaceutical Co., Ltd.

Senior Corporate Auditor:

Seiyu Miyashita
Also Auditor at
KYORIN pharmaceutical Co., Ltd.

Corporate Auditor:

Shogo Kobayashi
Also Auditor at
KYORIN pharmaceutical Co., Ltd.

Corporate Auditor:

Masaji Obata
Also Auditor at
KYORIN pharmaceutical Co., Ltd.

4. Financial outlook for the parent company
Term of March, 2006
Sales amount: 400 million yen
Ordinary loss: 30 million yen
Net deficit for the period: 10 million yen3