More recently, on October 3, 2005, with the goal of further growing our pharmaceutical business, Mitsubishi Pharma and Mitsubishi Chemical Corporation undertook a stock-for-stock exchange operation to form the joint holding company Mitsubishi Chemical Holdings Corporation. The establishment of Mitsubishi Chemical Holdings has positioned Mitsubishi Pharma as a pharmaceutical company forming the core of the Mitsubishi Chemical Holdings healthcare business and equipped to make rapid progress toward its target profile as a global research-driven pharmaceutical company able to consistently bring to market drugs that meet global needs.

We believe that our development toward this target profile will enable us to realize our basic philosophy: endeavor to embrace humanity and contribute to the improvement of people’s health and well-being. To realize this vision, we are continuing with our program of business reform and management reform as well as devoting resources to putting in place the state-of-the-art technologies of genome-based drug discovery and personalized medicine.

As an enterprise whose business is intimately concerned with human life, we believe that delivering effective drugs with a high degree of safety is part of the same approach as conserving the global environment, enhancing compliance, guaranteeing safety in the workplace, and contributing to society through medical care and pharmaceuticals.

In the future, in parallel with action to fulfill our social responsibilities — which extend to areas including the appropriate management of chemical substances, prevention of air, water, soil and other forms of pollution, recycling of resources, development of environment-friendly products, and measures to deal with global warming — we are committed to continuing our efforts to develop as a global research-driven pharmaceutical company.