News Release


Merger between Kyorin Phamaceutical Co.,Ltd. and Nisshin Kyorin Pharmaceutical Co.,Ltd.

September 26, 2007

We announce that Kyorin Co., Ltd. ("Kyorin") and Nisshin Seifun Group Inc. ("Nisshin-Seifun"), and Kyorin Pharmaceutical Co., Ltd. of Kyorin's wholly owned subsidiary ("Kyorin-Pharmaceutical") and Nisshin Pharma Inc. of Nisshin-Seifun's wholly owned subsidiary ("Nisshin-Pharma"), at the respective Boards of Directors held on September 26, 2007, passed a resolution to dissolve the joint venture established as Nisshin Kyorin Pharmaceutical Co., Ltd. ("Nisshin-Kyorin") and to merge Nisshin-Kyorin into Kyorin-Pharmaceutical on October 1, 2008.

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