Company: TAK
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001395064-25-000101
Chunk: 13

Company: TAKEDA PHARMACEUTICAL CO LTD
Filing Date: 2025-06-26
Form: 424B5
Chunk 13
---
USFI Indenture and the Notes contain only very limited restrictions on the ability of the Issuer and Guarantor 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 TUSFI Indenture and the Notes do not contain any financial covenants and contain only very limited restrictions on the ability of the Issuer and the Guarantor to pledge assets to secure other indebtedness, to securitize loan assets, or sell or otherwise dispose of substantially all of their assets, their ability to pay dividends on the shares of common stock, their ability to incur unsecured indebtedness or their ability to issue new securities or repurchase their outstanding securities. These or other actions could adversely affect their ability to pay amounts due on the Notes or the Guarantee, as applicable. In addition, the TUSFI Indenture and the Notes do not contain any covenants or other provisions that afford more than limited protection to holders of the Notes in the event of a change in control.

The Issuer may redeem the Notes prior to maturity.

The Issuer may redeem the Notes of a series, in whole but not in part, at its option prior to the final maturity date, subject to the conditions described under “Description of the Notes and Guarantee—Redemption—Optional Redemption.” In the case of such discretionary optional redemptions, if made after the Par Call Date for the relevant series of Notes, the Issuer will not be required to pay any premium or other make-whole 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