Company: TAK
Filing Date: 2025-06-27
Form Type: 424B2
Source: 0001628280-25-033198
Chunk: 10

Company: TAKEDA PHARMACEUTICAL CO LTD
Filing Date: 2025-06-27
Form: 424B2
Chunk 10
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 as:

◦ Sales to wholesalers are concentrated, which exposes us to credit risks and pricing pressures; and

◦ We may have to recognize additional charges on our statements of profit or loss due to impairment of goodwill, other intangible assets and equity method investments;

• Risks relating to the Notes, such as:

◦ The unsecured nature and structural subordination of the Notes;

◦ The TUSFI Indenture and the Notes contain only very limited restrictions on our ability to pledge, dispose or securitize our assets, pay dividends, incur indebtedness or issue or repurchase securities and provide holders with limited protection in the event of a change in control;

◦ The risk that the ratings of the Notes could be lowered; and

◦ Potential limited liquidity in the market for the Notes.

For a discussion of these and other risks you should consider before making an investment in the Notes, see “Item 3. Key Information—D. Risk Factors” of Takeda’s most recent annual report on Form 20-F and in the “Risk Factors” section of this prospectus supplement.

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THE OFFERING

| Issuer                                          |     | Takeda U.S. Financing, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Notes offered                                   |     | $1,650,000,000 aggregate principal amount of senior notes due 2035.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 $750,000,000 aggregate principal amount of senior notes due 2055.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 Each series of the Notes will be issued only in fully registered form, without coupons.                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Guarantor                                       |     | Takeda Pharmaceutical Company Limited will fully and unconditionally guarantee the payment of principal, premium, if any, interest and additional amounts, if any, payable in respect of the Notes.                                                                                                                                                                                                                                                                                                                                                            |
| Offering price                                  |     | For the 2035 Notes: 99.644% of the principal amount;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 For the 2055 Notes: 99.734% of the principal amount                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 plus, in each case, accrued interest, if any, from July 2, 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Maturity                                        |     | For the 2035 Notes: July 7, 2035; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 For the 2055 Notes: July 7, 2055.