Business Wire

Takeda Announces Acquisition of Own Shares

Share

Takeda Pharmaceutical Company Limited (TOKYO:4502/NYSE:TAK) (“Takeda”) announced that its Board of Directors resolved today to engage in the acquisition of its own shares pursuant to the provision of its Articles of Incorporation in accordance with Article 459, paragraph 1 of the Companies Act of Japan, as detailed below.

“At our current share price, we see an opportunity to buy back our shares at a substantial discount to what we perceive is their underlying value,” said Costa Saroukos, director and Chief Financial Officer of Takeda. “We expect that this share buyback of up to 100B yen will not impact our deleveraging plans, and that we will remain firmly on track to deliver on our target for 2x (‘low twos’) net debt to Adjusted EBITDA by the end of FY23. We are also maintaining our existing dividend policy and updating our capital allocation policy to allow for share buybacks in the future when appropriate. This underscores our business’ strong cash generation ability, our confidence in our fundamental growth driven by the 14 global brands, and our belief that the R&D strategy with ~40 new molecular entities in the pipeline, will deliver for the long term.”

This buyback of shares will be funded by Takeda’s operating cash flow driven by growth in our 14 global brands and working capital improvements.

1. Reason for acquisition of its own shares

To enhance capital efficiency and improve shareholder returns.

2. Details of acquisition

(1) Class of shares to be acquired:

Shares of common stock

(2) Number of shares to be acquired:

Up to 35 million shares

(equivalent to 2.23% of the total number of shares outstanding excluding treasury shares)

(3) Total amount of shares to be acquired:

Up to JPY 100 billion

(4) Schedule of acquisition:

From November 2, 2021 to April 29, 2022

(5) Method of acquisition:

Open-market repurchase through a trust bank

(Reference)

Treasury shares held by Takeda as of September 30, 2021

Aggregate number of issued shares (excluding treasury shares)

1,572,829,854 shares

Number of treasury shares

9,422,671 shares

Updated Capital Allocation Policy

Takeda is delivering on its financial commitments and has a strong cash flow outlook driven by business momentum, cost synergies, and non-core asset divestitures. Guided by our values and our commitment to Patients, People and Planet, we will allocate capital to maximize value for patients and shareholders.

Takeda's policy in the allocation of capital is as follows:

• Invest in growth drivers;
• Deleverage rapidly; and
• Shareholder returns.

In respect of “Invest in growth drivers”, Takeda makes disciplined and focused investments in value-creating business opportunities including R&D, new product launches, including in China, and plasma-derived therapies. With regards to “Deleverage rapidly”, Takeda is targeting a 2x (i.e. “low-twos”) net debt/adjusted EBITDA ratio within fiscal years ending March 2022 - March 2024 and has committed to maintaining solid investment grade credit ratings. In respect of “Shareholder returns”, Takeda maintains its well-established dividend policy of 180 yen per share annually, alongside share buybacks when appropriate. We expect underlying growth momentum to continue over the mid-term.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TOKYO: 4502 / NYSE: TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetics and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries and regions. For more information, visit https://www.takeda.com.

Important Notice

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Contacts:
Japanese Media
Ryoko Matsumoto
ryoko.matsumoto@takeda.com
+81 (0) 3-3278-2037

Investor Contacts:
Christopher O’Reilly
takeda.ir.contact@takeda.com
+81 (0) 3-3278-2306

Media Outside Japan
Christina Beckerman
christina.beckerman@takeda.com
+1 781-482-0831

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Nel ASA: Receives Purchase Order for 20MW Alkaline Electrolyser From Ovako26.11.2021 20:45:00 CET | Press release

Nel Hydrogen Electrolyser AS, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 20MW alkaline water electrolyser from Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors, Sweden. The fossil-free hydrogen will replace the use of fossil propane gas currently used in the heating furnaces. “We are excited to announce the delivery of electrolyser equipment to Ovako. There is huge potential in reducing CO2-emissions from steel-heating processes through green hydrogen. We look forward to working with Ovako and its partners to further develop fossil-free steel production,” says Jon André Løkke, CEO at Nel. The purchase order has a contract value of approximately EUR 11 million with equipment delivery in late 2022. The electrolyser will produce oxygen and hydrogen for Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production. The conversion to hydrogen wi

'Afghan Girl' Sharbat Gula Safely Evacuated to Italy Via Efforts of Photographer Steve McCurry, Metagood/OnChainMonkey Crypto Community & Future Brilliance Charity26.11.2021 18:16:00 CET | Press release

The legendary 'Afghan Girl' photographer, Steve McCurry, and his sister, Bonnie McCurry, are delighted to announce that, together with the British-American charity, Future Brilliance, and with the support of the Italian government, and NFT for Social Good platform Metagood, they have been able to bring the famous icon for Afghan female refugees, Sharbat Gula, to safety. Background: Six weeks ago, Bonnie McCurry reached out to Future Brilliance founder, impact pioneer, and investor Sophia Swire who has a 30-year track record of empowering women in Afghanistan. She told Sophia that Sharbat Gula wanted to be evacuated with her family. After considering all the various country options, they confirmed with Sharbat that her family hoped to seek asylum in Italy. Sophia and her team activated the Future Brilliance network in Afghanistan and, together with the McCurry family, arranged the necessary paperwork, visas, and logistics. The NFT for good platform Metagood (who worked with McCurry to d

ZOVOO Held Distributor Conference, Creating a Splash of Colour in Atomization Industry26.11.2021 16:45:00 CET | Press release

At 9:30pm (GMT +8) on November 12, ZOVOO, a new industry-leading atomization company, held its 2021 distributor conference online. Distributors from United States, United Kingdom, France and other countries participated in the conference. Meanwhile, ZOVOO also displayed its newly developed disposable products DRAGBAR series for the first time to the public, which attracted widespread attention from distributors worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211126005521/en/ (Photo: Business Wire) Founded in 2010, ZOVOO has sophisticated research and develop capability, forward-looking product design and perfect supply chain system. ZOVOO founding team has 10 years of proven strength and experience. They have the absolute advantages in terms of heating materials, air channel structure design, etc., and build up the five criteria of good flavor. The birth of each product needs to go through from R&D, design, product

Indeed and Quandoo Announce Partnership to Support the Restaurant Industry Hiring Crisis26.11.2021 15:21:00 CET | Press release

Indeed, the world’s largest jobs site, and Quandoo, one of the fastest growing restaurant reservation platforms worldwide, today announce a partnership to support the restaurant industry's current hiring crisis. This partnership will see restaurants be provided with £50 credit to post a sponsored job advertisement on Indeed’s platform. Sponsored jobs advertisements receive optimal visibility and are more likely to deliver hires* which Indeed and Quandoo hope will connect staff with the restaurants that need them the most. Employers posting a job on Indeed for the first time will have £50 credited to their account to start sponsoring their jobs and reaching more candidates. Employers in the UK can claim the offer here. “We are so excited about this partnership. It’s a topic that is close to home for us at Quandoo as we are hearing how challenging it is to find staff from our partners. So we wanted to do our bit to support the wider industry in any way we can. By partnering with Indeed w

The Leading Event for Payment, Identification and Security Professionals, TRUSTECH will present all the Latest trends in the sector26.11.2021 10:34:00 CET | Press release

For three days, professionals of the cards and digital trust technologies industries will meet at the TRUSTECH exhibition in Paris to discuss the issues and challenges of identity, security and payment, which are the real pillars of the digital transition for institutional or commercial organisations. A panel of international speakers will share their insights across the multiple conference sessions The 6,000 attendees expected from all over the world will also be able to discover concrete solutions to optimise their business and develop their practices. Visitors will have FREE access to participateat Trustech conferences program. AUTHENTICATION AND IDENTIFICATION: A STRATEGIC ISSUE FOR GOVERNMENTS AND ORGANISATIONS These new demands on governments require the use of increasingly complex technologies and processes.Digitization brings into question how the use of physical official documents will be used in the future. It also implies there will be new innovations regarding how physical

Vifor Pharma supports Iron Deficiency Day 2021: Call to action for early iron deficiency diagnosis26.11.2021 07:00:00 CET | Press release

Already for the seventh consecutive year of Iron Deficiency Day, Vifor Pharma is supporting a growing international alliance including the Heart Failure Policy Network, European Kidney Health Alliance, Global Heart Hub and Croí the West of Ireland Cardiac Foundation with the aim to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed. Iron Deficiency Day 2021 encourages people at risk to listen to their body, to take iron seriously and to take control over their health by seeking early diagnosis and medical help from their physician. Iron Deficiency affects about half of the patients with chronic kidney disease2 and chronic heart failure and is associated with reduced quality of life3, an increased risk of hospitalization4 and cardiovascular death5. Despite the serious consequences and high prevalence, of iron deficiency, the condition remains under-recognized6. Diagnosis and treatment of iron deficiency has been further i

LightCON Unveils Global Teaser Site for New Mobile Game 'Rise of Stars (ROS)'26.11.2021 03:00:00 CET | Press release

Rise of Stars (ROS), a new mobile game that is being developed by LightCON, a subsidiary of WEMADE MAX (Co-CEOs: Hyunguk Chang, Gilhyung Lee) (KOSDAQ: 101730), today opened its global teaser site. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211125006252/en/ LightCON unveils global teaser site for new mobile game 'Rise of Stars (ROS).' ROS is a new mobile SF strategy game featuring elaborately designed warships and planets set in the vast universe. Under the slogan, 'The 4x Blockchain Game for the Greatest Conqueror,' the teaser site was designed to help users experience the unique atmosphere of ROS and the game concept with the representative image of the game. ROS will be building a system for players to obtain game tokens through resource mining within planets. It aims for a global launch in the 1st quarter of 2022. (Graphic: Business Wire) Under the slogan, ‘The 4x Blockchain Game for the Greatest Conqueror,’ the tease

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom