Notice Concerning the Exemption from
|Listed Stock Name:||Eisai Co., Ltd.|
|President and CEO:||Mr. Haruo Naito|
|Code:||4 5 2 3|
|Listed Locations:||First Section of the Tokyo Stock Exchange|
& the Osaka Securities Exchange
|Inquiries:||Mr. Hiroyuki Mitsui|
Public Relations, General Affairs,
the Substitutional Portion of Eisai's Welfare Pension Fund
Eisai Co., Ltd. has obtained approval from Japan's Ministry of Health, Labour and Welfare for exemption from the future benefit obligation of the substitutional retirement portion of the Eisai Welfare Pension Fund as of August 29, 2003. Eisai applied for the exemption with the authorities, following the enactment of the new law concerning the defined benefit corporate pension plans in Japan.
With this approval, Eisai adopted a transitional measure provided in the paragraph 47-2 of the Practical Guidance for Employee Retirement Benefit Accounting (interim report) in the 13th issue of Accounting Committee Report (Publication: September 14, 1999, Final amendment: December 10, 2001) by The Japanese Institute of Certified Public Accountants, and the Company recognized extinct of the retirement payment obligations related to the substitutional portion as of the approval date.
As a result, Eisai forecasts an extraordinary gain of approximately 3.7 billion yen in the consolidated and non-consolidated financial results of the semi-annual and annual period for the fiscal year ending March 2004.
Eisai Co., Ltd.
Public Relations Department