Tokyo, February 19, 2008—Shearman & Sterling has advised Fujifilm Holdings on its joint acquisition with Taisho Pharmaceutical Co., Ltd. of Toyama Chemical Co., Ltd. The transaction is valued at approximately 155 billion yen (US$1.44 billion).

Fujifilm Holdings is a holding company for the operating companies Fujifilm Corporation and Fuji Xerox Co., Ltd. Fujifilm Holdings' operating companies are active in the imaging solutions, information solutions and document solutions businesses.

Toyama is a research and development-focused pharmaceutical company, with 10 pharmaceuticals in various stages of development, including the first new class of anti-flu drug in a decade. Taisho is a leading producer of over-the-counter drugs and health-related products that has become active in the manufacture and sale of prescription pharmaceuticals.

Tokyo Managing Partner Masahisa Ikeda (TK-CM) led the team, working with associates Brian Wheeler (TK-MA) and Kumiko Nishiyama (TK-CM), and legal assistants Mizuho Sadamasu (TK-CM) and Fiona McKinnon (TK-MA).