On January 31, 2017 Kyowa Hakko Kirin Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Nobuo Hanai, hereinafter, "Kyowa Hakko Kirin"), reported that it has established Kyowa Kirin Frontier Co., Ltd. (hereinafter, "Kyowa Kirin Frontier") on January 18, 2017 as part of "CSV(Note 1) management based on our unique business structure," one of the core strategies set forth by Kyowa Hakko Kirin in its current Mid-term Business Plan (Press release, Kyowa Hakko Kirin, JAN 31, 2017, View Source [SID1234517604]).

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Kyowa Kirin Frontier will work toward obtaining approval to manufacture and market "Authorized version (Note 2)" of NESP, a core product of Kyowa Hakko Kirin, in Japan. Through such efforts by Kyowa Kirin Frontier, it will be possible to respond to the changes in the social environment surrounding healthcare in Japan and the diversification of the needs thereof, and to meet social demands for medical cost containment.

The Kyowa Hakko Kirin Group companies strive to contribute to the health and well-being of people around the world by creating new value through the pursuit of advances in life sciences and technologies. Note 1: CSV stands for "Creating Shared Value." It ref