BNY Mellon, the global leader in asset management and securities servicing, has been appointed by Takeda Pharmaceutical Company Limited (Takeda) as the depositary bank for its sponsored American depositary receipt (ADR) program. Each Takeda ADR represents one-half of a common share and trades on the over-the-counter (OTC) market under the symbol TKPYY. Takeda's common shares trade on the Tokyo Stock Exchange as well as four other exchanges in Japan under the code "4502." Previously, Takeda traded as an unsponsored ADR program serviced by multiple depositaries.
Takeda is a research-based global pharmaceutical company engaged in the production and sale of prescription drugs and over-the-counter drugs. Takeda maintains research centers in Japan, the U.S., Singapore and the UK with products available in nearly 90 countries worldwide.
"Takeda's continued expansion into Europe and the Americas underscores its growth capabilities and commitment to building a worldwide brand," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "By sponsoring their OTC-traded ADR program, Takeda will be better-positioned to take advantage of its global brand recognition and growth initiatives."
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