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IR Policy

Nippon Shinyaku Policy for Information Disclosure

1. Basic Policy for Information Disclosure

Nippon Shinyaku has deeply acknowledged that the timely and proper disclosure of corporate information forms the basis of sound capital markets. Nippon Shinyaku is committed to strive to disclose information in a timely and fair manner to all stakeholders and medias in accordance with Financial Instruments and Exchange Act and other applicable laws and regulations and the rules and regulations of the stock exchanges where Nippon Shinyaku’s shares are listed.

2. Information Subject to Disclosure

1) Information that Nippon Shinyaku is required to disclose by Rules on Timely Disclosure of Corporate Information by Issuers of Listed Securities of Tokyo Stock Exchange (“Timely Disclosure Rules”) and other rules and regulations.

2) Information to which the above-mentioned rules and regulations do not apply but may have an impact on the investment decision.

3. Methods of Disclosure

1) Nippon Shinyaku will disclose material information subject to disclosure by Timely Disclosure Rules through the Timely Disclosure network (TDnet).

2) Nippon Shinyaku will promptly disclose other information through press releases, press conferences and other manners, depending on the importance and urgency.

3) Information disclosed under above 1) or 2) will be promptly posted on Nippon Shinyaku’s corporate website following disclosure.

4. Disclosure of Future Prospects

The information about future prospects disclosed by Nippon Shinyaku may include risks and uncertainties regarding its business strategies, plans and forecasts as of the disclosing date. Actual results may differ from the future prospects.

5. Responding to Market Rumors

Nippon Shinyaku will not make any comments on market rumors in principle. However, if such rumors substantially affect the capital markets or if Nippon Shinyaku is requested by the stock exchanges or other institutions, Nippon Shinyaku may properly respond to that.

6. Quiet Period

Nippon Shinyaku has defined the period from the next business day of the end of each quarter to the day of the announcement of financial results of the quarter a “Quiet Period”, and during the Quiet Period Nippon Shinyaku will refrain from making any comments and on financial results and responding to the questions to prevent a leakage of financial information and to ensure the fairness. However, if earnings forecast is expected to significantly change during the Quiet Period, Nippon Shinyaku will disclose the information in a timely manner. Nippon Shinyaku will also respond, even during the Quiet period, to the questions regarding the information which has been released.

7. Framework for Information Disclosure

Nippon Shinyaku has formed the IR committee to establish and revise the policy for information disclosure and to discuss the possibility and methods of information disclosure.

July, 2010

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