Company: TAK
Filing Date: 2025-06-27
Form Type: 424B2
Source: 0001628280-25-033198
Chunk: 13

Company: TAKEDA PHARMACEUTICAL CO LTD
Filing Date: 2025-06-27
Form: 424B2
Chunk 13
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ole payments on the Notes being redeemed. Moreover, upon the occurrence of certain changes in tax law, the Issuer will be permitted to redeem the Notes at par. See “Description of the Notes and Guarantee—Redemption—Optional Tax Redemption.” If the Notes were redeemed prior to the final maturity date, holders may not be able to reinvest the money received upon such redemption at the same rate of return as the Notes.

The ratings of the Notes could be lowered and this could have an adverse effect on the price and liquidity of the Notes.

We intend to apply for credit ratings for the Notes. In addition, other rating agencies may assign credit ratings to the Notes without solicitation from or provision of information by us. Such ratings are limited in scope, and do not address all material risks relating to an investment in the Notes, but reflect only the view of each rating agency at the time the rating is issued. There is no assurance that such credit ratings will remain in effect for any given period of time or that such ratings will not be lowered, suspended or withdrawn entirely by the rating agencies, if, in each rating agency’s judgment, circumstances so warrant. A downgrade or potential downgrade in our credit ratings or the assignment of new ratings that are lower than existing ratings could reduce the population of potential investors in the Notes and adversely affect the price and liquidity of the Notes. A rating is based upon information furnished by us or obtained by the rating agency from its own sources and is subject to revision, suspension or withdrawal by the rating agency at any time. We have no obligation to inform holders of the Notes of any such revision, suspension or withdrawal.

The market for the Notes may have limited liquidity.

The Notes are a new issuance of securities for which no public trading market currently exists. The Notes will not be quoted on any automated dealer quotation system. The underwriters have informed us that they currently intend to make a market in each series of the Notes following this offering. However, they have no obligation to do so and may stop at any time. Furthermore, there can be no assurance as to the liquidity of any markets that may develop for the Notes or the prices at which you will be able to sell your Notes, if at all. Future trading prices of the Notes will depend on many factors, including:

• prevailing interest rates;

• our financial condition and results of operations;

• the then-current ratings assigned to the Notes;

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• the market for similar securities; and

• general economic conditions.

Any trading