6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

450, 5th Street

Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of February, 2006

Daiichi Sankyo Company, Limited

(Translation of registrant’s name into English)

5-1, Nihonbashi 3-chome

Chuo-ku, Tokyo 103-8426

Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  þ        Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes  ¨        No  þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes  ¨        No  þ

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨        No  þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	DAIICHI SANKYO COMPANY, LIMITED
DATE: February 1, 2006	By:	/s/ Takashi Shoda
	Name:	Takashi Shoda
	Title:	President and Representative Director

EXHIBIT INDEX

Exhibit Number		Description of Exhibits
99.1	—	Press Release: “Consolidated Financial Results for the First Nine Months of Fiscal 2005 for Daiichi Sankyo Company, Limited”
99.2	—	“Reference Data (Financial Results for 3Q of FY2005) 1/31/2006”
99.3	—	Press Release: “Consolidated Financial Results for the First Nine Months of Fiscal 2005 for Sankyo Company, Limited”
99.4	—	Press Release: “Consolidated Financial Results for the First Nine Months of Fiscal 2005 for Daiichi Pharmaceutical Co., Ltd.”

EX-99.1

Exhibit 99.1

January 31, 2006

Consolidated Financial Results

for the First Nine Months of Fiscal 2005

(Nine-Month Period Ended December 31, 2005)

Listed company name: DAIICHI SANKYO COMPANY, LIMITED

Stock code number: 4568

Listed exchanges: Tokyo, Osaka, and Nagoya

Head office: Tokyo, Japan

URL: http://www.daiichisankyo.co.jp

Representative: Mr. Takashi Shoda, President and Representative Director

Contact: Mr. Toshio Takahashi, Corporate Officer, General Manager of Corporate Communications Department

Telephone: +81-3-6225-1126

1. Matters Relating to the Preparation of the Quarterly Consolidated Financial Statements

(1)    Adoption of simplified accounting methods:	Yes
“Income taxes” were calculated using a simplified method.
(2)    Accounting methods differing from those adopted for the latest fiscal year:	None
(3)    Changes in the scope of consolidation and application of the equity method:	Yes

Consolidated subsidiaries:

Increase:    2

Decrease: 10

Companies accounted for by the equity method:

Increase:  3

Decrease: 0

2. Consolidated Financial Results for the First Nine Months of Fiscal 2005

(1) Consolidated Financial Results

	(Figures less than ¥1 million, except per share amounts, have been omitted.)
	Net sales		Operating income		Ordinary income
	Millions of yen	Percent change	Millions of yen	Percent change	Millions of yen	Percent change
First nine months of fiscal 2005	704,039	—	134,294	—	138,890	—
First nine months of fiscal 2004	—	—	—	—	—	—
Fiscal 2004	—	—	—	—	—	—
	Net income		Basic net income per share		Diluted net income per share
	Millions of yen	Percent change	Yen		Yen
First nine months of fiscal 2005	80,992	—	110.71		110.69
First nine months of fiscal 2004	—	—	—		—
Fiscal 2004	—	—	—		—

Note:

Percentages for net sales, operating income, ordinary income, and net income represent a change from the corresponding results for the first nine months of previous fiscal years.

1

(2) Consolidated Financial Position

	Total assets	Shareholders’ equity	Shareholders’ equity ratio	Shareholders’ equity per share
	Millions of yen	Millions of yen	%	Yen
First nine months of fiscal 2005	1,566,723	1,221,431	78.0	1,675.35
First nine months of fiscal 2004	—	—	—	—
Fiscal 2004	—	—	—	—

3. Forecast of Consolidated Results for Fiscal Year 2005 (April 1, 2005—March 31, 2006)

	Net sales	Ordinary income	Net income
	Millions of yen	Millions of yen	Millions of yen
Full year	920,000	150,000	80,000

Reference: Forecasted annual net income per share (basic): ¥109.17

*Note: The forecast figures shown above are based on information that was available at the time of preparation and are subject to certain risks and uncertainties. Actual performance and other factors may differ from these forecasts due to changes in circumstances and other developments. For more information related to above forecasts, please refer to page 4.

2

Overview of Results of Operations

DAIICHI SANKYO COMPANY, LIMITED, was established through a stock transfer on September 28, 2005, to serve as the joint holding company of its two wholly owned subsidiaries—Sankyo Company Limited and Daiichi Pharmaceutical Co., Ltd. (hereafter, “the Subsidiaries”)—and seeks to become a Japan-based global pharma innovator.

Performance figures for the first nine months of fiscal 2005 include the Subsidiaries’ consolidated results from April 1 through December 31, 2005, as well as the Company’s non-consolidated results from September 28 through December 31, 2005. Accordingly, as the nine-month period under review is the Company’s first nine-month period, period-to-period performance comparisons are not presented.

In the first nine months of fiscal 2005, net sales amounted to ¥704.0 billion. In domestic pharmaceutical sales, under an operating environment impacted by the growing effect of government measures aimed at restraining medical costs, sales of the antihyperlipidemic agent Mevalotin^® decreased, but the Company recorded increased sales of such products as Cravit^®, a broad-spectrum oral antibacterial agent, and Olmetec^®, an antihypertensive agent. In particular, Olmetec^® demonstrated robust performance, achieving both a marked increase in sales and capturing a larger market share, thanks to effective, academic promotional activities as well as the launch of marketing collaboration between Sankyo and Daiichi. Overseas pharmaceutical sales were negatively affected by the expiration of the patent in certain European countries for the antihyperlipidemic pravastatin and increasing competition faced by that product in the United States, which weakened sales of bulk pravastatin. However, sales of olmesartan—an antihypertensive agent sold as Benicar^® in the United States and as Olmetec^® in Europe and Japan—grew substantially and sales of bulk levofloxacin, an antibacterial agent, were strong.

Regarding profitability, the Company made strategic investments in R&D, including investments of resources to expand the pipeline, but also worked to enhance management efficiency by pushing forward with cost reductions and taking steps to reduce other operating expenses. As a result, cost of sales amounted to ¥219.7 billion (31.2% of net sales); selling, general and administrative expenses totaled ¥350.0 billion (including ¥113.3 billion in R&D expenses); operating income was ¥134.2 billion; and ordinary income came to ¥138.8 billion.

Reflecting the recognition of such extraordinary expenses as a ¥5.2 billion loss on impairment of idle property, plant and equipment and a ¥2.2 billion provision for the contingency reserve, net income amounted to ¥80.9 billion.

Overview of Financial Position

Total assets at the end of the period under review amounted to ¥1,566.7 billion, shareholders’ equity came to ¥1,221.4 billion, and the shareholders’ equity ratio was 78.0%.

3

Forecast of Consolidated Results for Fiscal 2005

As for results for the full fiscal year ending March 31, 2006, we expect our sales to exceed projections as presented at the time of the interim results announcement due to growth in sales of the antihypertensive agent Benicar^® in the United States and a rise in bulk exports of the antihyperlipidemic agent pravastatin to Europe as well as the recording of a portion of lump-sum income for the antiplatelet agent Plavix^® and a foreign exchange gain due to the yen’s depreciation.

In addition, we expect to generate income in excess of the forecasts presented at the time of the interim results announcement, owing to an increase in gross profit on sales, which will offset an increase in business integration-related expenses, and greater R&D investment aimed at expanding the pipeline.

In light of the aforementioned factors, we have revised our forecasts for fiscal 2005.

4

4. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Millions of yen)
	As of December 31, 2005
	Amount		%
ASSETS
I        Current assets:
1. Cash and time deposits	208,223
2. Trade notes and accounts receivable	278,421
3. Marketable securities	229,991
4. Mortgage-backed securities	18,000
5. Inventories	117,888
6. Deferred tax assets	35,045
7. Other current assets	41,346
Allowance for doubtful accounts	(782	)
Total current assets	928,134		59.2
II      Non-current assets:
1. Property, plant and equipment:
(1) Buildings and structures	166,510
(2) Machinery, equipment and vehicles	49,008
(3) Land	48,974
(4) Construction in progress	9,994
(5) Other	20,138
Total property, plant and equipment, net	294,626		18.8
2. Intangible assets:
(1) Goodwill, net	10,376
(2) Other intangible assets, net	24,314
Total intangible assets	34,690		2.2
3. Investments and other assets:
(1) Investment securities	251,172
(2) Long-term loans	6,653
(3) Prepaid pension costs	14,684
(4) Deferred tax assets	11,012
(5) Other assets	26,378
Allowance for doubtful accounts	(630	)
Total investments and other assets	309,271		19.8
Total non-current assets	638,588		40.8
Total assets	1,566,723		100.0

5

	(Millions of yen)
	As of December 31, 2005
	Amount		%
LIABILITIES
I        Current liabilities:
1. Trade notes and accounts payable	65,342
2. Short-term bank loans	10,262
3. Income taxes payable	27,724
4. Deferred tax liabilities	895
5. Allowance for sales returns	915
6. Allowance for sales rebates	4,008
7. Allowance for contingent losses	2,240
8. Accrued expenses and other current liabilities	117,763
Total current liabilities	229,153		14.6
II      Non-current liabilities:
1. Long-term debt	3,642
2. Deferred tax liabilities	21,117
3. Accrued retirement and severance benefits	70,466
4. Accrued directors’ retirement and severance benefits	2,860
5. Other non-current liabilities	6,720
Total non-current liabilities	104,807		6.7
Total liabilities	333,960		21.3
MINORITY INTERESTS
Minority interests	11,331		0.7
SHAREHOLDERS’ EQUITY
I        Common stock	50,000		3.2
II      Additional paid-in-capital	179,858		11.5
III     Retained earnings	929,812		59.3
IV    Net unrealized gain on investment securities	74,979		4.8
V      Foreign currency translation adjustments	(3,409	)	(0.2	)
VI    Treasury stock at cost	(9,809	)	(0.6	)
Total shareholders’ equity	1,221,431		78.0
Total liabilities, minority interests and shareholders’ equity	1,566,723		100.0

6

(2) Consolidated Statement of Income

	(Millions of yen)
	First nine months of fiscal 2005 (For the nine-month period ended December 31, 2005)
	Amount		%
I        Net sales	704,039		100.0
II       Cost of sales	219,728		31.2
Gross profit	484,310		68.8
III       Selling, general and administrative expenses	350,016		49.7
Operating income	134,294		19.1
IV      Non-operating income	8,627		1.2
V        Non-operating expenses	4,031		0.6
Ordinary income	138,890		19.7
VI      Extraordinary gains	5,751		0.8
VII     Extraordinary losses	13,248		1.8
Net income before income taxes and minority interests	131,393		18.7
Income tax expenses	50,589		7.2
Minority interests in net losses of Subsidiaries	(189	)	(0.0	)
Net income	80,992		11.5

7

(3) Segment Information

[Operating Segments]

	(Millions of yen)
First nine months of fiscal 2005	Pharmaceuticals	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	605,765	98,273	704,039	—		704,039
(2) Inter-segment sales and transfers	584	3,066	3,651	(3,651	)	—
Total	606,349	101,340	707,690	(3,651	)	704,039
Operating expenses	474,950	98,841	573,791	(4,046	)	569,744
Operating income	131,399	2,499	133,898	395		134,294

Notes:

1. Method of classifying operating segments

Classification into ‘Pharmaceuticals’ and ‘Other’ is based on consideration of product type, market characteristics, and other factors.

2. Principal products in each operating segment

Pharmaceuticals: Prescription drugs, medicine, and healthcare products

Other: Food products, agrochemicals, chemicals, and other

[Geographic Segments]

	(Millions of yen)
First nine months of fiscal 2005	Japan	North America	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	579,881	83,079	41,077	704,039	—		704,039
(2) Inter-segment sales and transfers	14,997	12,495	4,129	31,623	(31,623	)	—
Total	594,879	95,575	45,207	735,662	(31,623	)	704,039
Operating expenses	481,409	75,197	44,852	601,458	(31,713	)	569,744
Operating income	113,470	20,377	355	134,203	90		134,294

Notes:

1. Method of classifying geographic segments

Geographic segments are classified on the basis of geographic proximity.

2. Countries and regions included in segments other than Japan

North America: the United States

Other: Germany, the United Kingdom, France, Spain, Italy, Taiwan, and others

[Overseas Net Sales]

	(Millions of yen)
First nine months of fiscal 2005	North America	Europe	Other areas	Total
I        Overseas net sales	139,706	68,665	22,524	230,896
II      Consolidated net sales				704,039
III     Percentage of overseas net sales to consolidated net sales (%)	19.8	9.8	3.2	32.8

Notes:

1. Method of classifying countries and regions

Countries and regions are classified on the basis of geographic proximity.

2. Countries and regions included in each area

North America: the United States and Canada

Europe: Germany, the United Kingdom, France, Spain, Italy, Ireland, Switzerland, and others

Other areas: Asia, the Middle East, Latin America, and others

3. Overseas net sales are sales of the Company and its consolidated subsidiaries which are transacted in countries or regions outside of Japan.

8

EX-99.2

Exhibit 99.2

	Stock Code 4 5 6 8

Reference Data

(Financial Results for 3Q of FY2005)

1/31/2006

Consolidated Business Performance
1 DAIICHI SANKYO CO., LTD.	1
Non-consolidated Business Performance
2 Sankyo Group	2
3 Daiichi Pharmaceuticals Group	2
4 Sales of Main Pharmaceuticals	3
5 Status in R&D Pipeline	4
(Change from the announcement of November 2005)

DAIICHI SANKYO CO., LTD.

U R L http://www.daiichisankyo.co.jp/

1 Consolidated Business Performance - DAIICHI SANKYO CO., LTD.

	FY2005												FY2005		FY2005
	*1st Qtr Apr.1-Jun.30		2nd Qtr Jul.1-Sep.30			3rd Qtr Oct.1-Dec.31		Nine Months period ended Dec.31, 2005					Full year Estimate Apr.1-Mar.31		Full year Estimate issued in Nov.
	Amount	%	Amount		%	Amount	%	Amount		%	Change		Amount	%	Amount	%
	Million yen		Million yen			Million yen		Million yen			Million yen		Million yen		Million yen
Net sales	231,148	100.0		220,660	100.0	252,231	100.0		704,039	100.0		5,908	920,000	100.0	900,000	100.0
Cost of sales	72,551	31.3		68,844	31.2	78,432	31.1		219,728	31.2	D	19,744	293,000	31.8	294,000	32.7
Gross profit	158,694	68.7		151,818	68.8	173,798	68.9		484,310	68.8		25,651	627,000	68.2	606,000	67.3
R&D expenses	35,332	15.3		37,196	16.9	40,843	16.2		113,371	16.1		9,154	158,000	17.2	156,100	17.3
Selling, general and administrative expenses	75,653	32.7		81,985	37.2	79,006	31.3		236,644	33.6		10,065	322,000	35.0	322,900	35.9
Operating income	47,649	20.6		32,696	14.8	53,949	21.4		134,294	19.1		6,434	147,000	16.0	127,000	14.1
Non-operating income	3,628			2,106		2,893			8,627			2,114
Non-operating expenses	1,327			2,109		595			4,031			346
Ordinary income	49,951	21.6		32,691	14.8	56,248	22.3		138,890	19.7		8,203	150,000	16.3	130,000	14.4
Extraordinary gains	2,732			1,034		1,985			5,751		D	10,211
Extraordinary losses	1,127			10,109		2,012			13,248			402
Net income before income taxes and minority interests	51,557	22.3		23,615	10.7	56,221	22.3		131,393	18.7	D	2,411
Income tax expense	19,769			6,154		24,666			50,589		D	2,083
Minority interests in net losses of Subsidiaries	147		D	348		12		D	189		D	29
Net income	31,641	13.7		17,809	8.1	31,542	12.5		80,992	11.5	D	300	80,000	8.7	71,000	7.9

* Simple totals of both companies’ figures

(Reference)

Previous year - nine-month period ended Dec.31, 2004

[Simple totals of both companies’ figures]

	Sankyo Group Apr.1-Dec.31, 2004		Daiichi Group Apr.1-Dec.31, 2004			Total
	Amount	%	Amount		%	Amount		%
	Million yen		Million yen			Million yen
Net sales	444,349	100.0		253,782	100.0		698,131	100.0
Cost of sales	159,633	35.9		79,838	31.5		239,472	34.3
Gross profit	284,715	64.1		173,943	68.5		458,659	65.7
R&D expenses	62,254	14.0		41,963	16.5		104,217	14.9
Selling, general and administrative expenses	142,927	32.2		83,652	33.0		226,579	32.5
Operating income	79,533	17.9		48,327	19.0		127,860	18.3
Non-operating income	4,613			1,900			6,513
Non-operating expenses	3,093			592			3,685
Ordinary income	81,052	18.2		49,635	19.6		130,687	18.7
Extraordinary gains	14,738			1,224			15,962
Extraordinary losses	4,558			8,288			12,846
Net income before income taxes and minority interests	91,233	20.5		42,571	16.8		133,804	19.2
Income tax expense	34,764			17,908			52,672
Minority interests in net losses of Subsidiaries	513		D	673		D	160
Net income	55,956	12.6		25,336	10.0		81,292	11.6

1

2 Non-Consolidated Business Performance - Sankyo Group

	FY2005										FY2005		FY2005
	*1st Qtr Apr.1-Jun.30		2nd Qtr Jul.1-Sep.30		3rd Qtr Oct.1-Dec.31		Nine Months period ended Dec.31, 2005				Full year Estimate Apr.1-Mar.31		Full year Estimate issued in Nov.
	Amount	%	Amount	%	Amount	%	Amount	%	Change		Amount	%	Amount	%
	Million yen		Million yen		Million yen		Million yen		Million yen		Million yen		Million yen
Net sales	142,280	100.0	143,927	100.0	151,622	100.0	437,829	100.0	D	6,520	576,000	100.0	565,000	100.0
Cost of sales	46,700	32.8	48,070	33.4	51,184	33.8	145,954	33.3	D	13,679	198,000	34.4	199,000	35.2
Gross profit	95,580	67.2	95,857	66.6	100,437	66.2	291,874	66.7		7,159	378,000	65.6	366,000	64.8
R&D expenses	21,243	14.9	21,353	14.8	26,182	17.3	68,778	15.7		6,524	94,500	16.4	92,500	16.4
Selling, general and administrative expenses	48,525	34.1	52,215	36.3	49,560	32.7	150,300	34.3		7,373	206,000	35.8	205,500	36.4
Operating income	25,811	18.1	22,290	15.5	24,694	16.3	72,795	16.6	D	6,738	77,500	13.5	68,000	12.0
Non-operating income	2,473		1,787		2,200		6,460			1,847
Non-operating expenses	1,196		1,266		558		3,020		D	73
Ordinary income	27,089	19.0	22,810	15.8	26,337	17.4	76,236	17.4	D	4,816	80,500	14.0	70,000	12.4
Extraordinary gains	2,569		1,033		1,967		5,569		D	9,169
Extraordinary losses	486		8,000		785		9,271			4,713
Net income before income taxes and minority interests	29,172	20.5	15,843	11.0	27,519	18.1	72,534	16.6	D	18,699
Income tax expense	10,935		1,850		13,197		25,982		D	8,782
Minority interests in net losses of Subsidiaries	161		114		10		285		D	228
Net income	18,076	12.7	13,877	9.6	14,312	9.4	46,265	10.6	D	9,691	48,500	8.4	41,000	7.3

3 Non-Consolidated Business Performance - Daiichi Pharmaceuticals Group

	FY2005											FY2005		FY2005
	*1st Qtr Apr.1-Jun.30		2nd Qtr Jul.1-Sep.30		3rd Qtr Oct.1-Dec.31		Nine Months period ended Dec.31, 2005					Full year Estimate Apr.1-Mar.31		Full year Estimate issued in Nov.
	Amount	%	Amount	%	Amount	%	Amount		%	Change		Amount	%	Amount	%
	Million yen		Million yen		Million yen		Million yen			Million yen		Million yen		Million yen
Net sales	88,868	100.0	76,799	100.0	100,926	100.0		266,593	100.0		12,811	346,000	100.0	335,000	100.0
Cost of sales	25,811	29.0	20,716	27.0	27,251	27.0		73,778	27.7	D	6,060	95,000	27.5	95,000	28.4
Gross profit	63,056	71.0	56,083	73.0	73,676	73.0		192,815	72.3		18,872	251,000	72.5	240,000	71.6
R&D expenses	14,089	15.9	15,942	20.8	14,719	14.6		44,750	16.8		2,787	63,500	18.4	63,600	19.0
Selling, general and administrative expenses	27,128	30.5	30,171	39.3	29,795	29.5		87,094	32.7		3,442	118,000	34.1	117,400	35.0
Operating income	21,838	24.6	9,971	13.0	29,161	28.9		60,970	22.9		12,643	69,500	20.1	59,000	17.6
Non-operating income	1,155		467		850			2,472			572
Non-operating expenses	131		482		36			649			57
Ordinary income	22,862	25.7	9,956	13.0	29,975	29.7		62,793	23.6		13,158	70,500	20.4	60,000	17.9
Extraordinary gains	163		0		18			181		D	1,043
Extraordinary losses	641		2,108		1,227			3,976		D	4,312
Net income before income taxes and minority interests	22,385	25.2	7,847	10.2	28,766	28.5		58,998	22.1		16,427
Income tax expense	8,834		4,281		11,435			24,550			6,642
Minority interests in net losses of Subsidiaries	-14		-463		2		D	475			198
Net income	13,565	15.3	4,029	5.2	17,328	17.2		34,922	13.1		9,586	38,500	11.1	33,000	9.9

2

4 Sales of Main Pharmaceuticals

				Millions of yen
						FY 2005 Results(‘05.Apr.-’06.Mar.)
						Full Year Revised Estimate (issued in Nov.)			Nine Months Results			Full Year Forecast (this time)		2nd Half Revised Estimate (issued in Nov.)			3rd Quarter Results					2nd Half Forecast (this time)
				FY 2004 Results (‘04.Apr.-’05.Mar.)
	Brand Name		*Sale	Full Year Results				Change			Change					Change			Change	Progress
Prescription drug sales in Japan	MEVALOTIN		S	82,500		75,900		-6,600	60,700		-5,700	74,800		37,400		-2,500	22,100		-1,700	59	%	36,300
	Panaldine		D	28,600		28,100		-500	23,200		-300	28,100		13,400		-300	8,500		-100	63	%	13,400
	Artist		D	15,600		18,100		2,500	14,500		2,100	18,100		9,000		1,100	5,400		700	60	%	9,000
	Sunrythm		D	11,100		11,900		800	9,500		600	11,900		5,900		400	3,500		200	59	%	5,900
	ACECOL		S	10,900		9,100		-1,800	7,500		-1,300	9,100		4,300		-800	2,600		-400	60	%	4,300
	OLMETEC		S	9,000		24,000		15,000	18,900		12,000	25,000		14,000		9,500	8,800		6,400	63	%	15,000
	Coversyl		D	8,700		8,800		100	7,000		-100	8,800		4,300		100	2,500		-100	58	%	4,300
	HANP		D	7,000		8,700		1,700	6,700		1,500	8,700		4,800		800	2,800		600	58	%	4,800
	CALBLOCK		S	3,000		7,100		4,100	4,900		2,900	7,100		4,100		2,300	1,900		1,100	46	%	4,100
	LIVALO		S	2,100		3,900		1,800	3,200		1,800	3,900		1,900		400	1,200		400	63	%	1,900
	FASTIC		S	5,400		5,500		100	4,300		100	5,500		2,800		100	1,500		0	54	%	2,800
	Cravit		D	47,100		50,200		3,100	40,200		4,000	50,200		26,600		300	16,600		1,200	62	%	26,600
	CARBENIN		S	7,800		6,900		-900	5,300		-900	6,900		3,500		-300	1,800		-300	51	%	3,500
	BANAN		S	5,600		4,800		-800	3,500		-700	4,800		2,800		-200	1,400		-200	50	%	2,800
	Topotecin		D	3,900		5,000		1,100	3,900		900	5,000		2,500		400	1,400		200	56	%	2,500
	Zyrtec		D	11,400		11,600		200	9,100		1,800	11,600		6,000		-1,200	3,500		400	58	%	6,000
	LOXONIN		S	28,600		28,700		100	22,700		700	28,700		14,400		-200	8,400		400	58	%	14,400
	Mobic		D	8,500		10,800		2,300	8,600		1,700	10,800		5,400		700	3,200		100	59	%	5,400
	Miltax		D	5,900		6,100		200	4,800		0	6,100		3,000		200	1,700		0	57	%	3,000
	Omnipaque		D	34,200		34,100		-100	28,200		300	34,100		16,100		-200	10,200		200	63	%	16,100
	KREMEZIN		S	13,600		13,200		-400	10,400		-400	13,200		6,600		100	3,800		100	58	%	6,600
	ZANTAC		S	8,500		7,500		-1,000	6,000		-900	7,500		3,600		-500	2,100		-300	58	%	3,600
	Omniscan		D	5,100		5,400		300	4,400		300	5,400		2,600		100	1,600		100	62	%	2,600
	Evoxac		D	1,200		1,400		200	1,100		100	1,400		700		100	400		0	57	%	700
Export	Pravastatin		S	77,000		59,700		-17,300	54,000		-10,000	63,900		21,100		-12,700	15,000		-5,000	71	%	25,300
	Levofloxacin*1		D	24,200		29,200		5,000	23,000		3,000	29,200		14,300		3,300	8,000		1,200	56	%	14,300
**Overseas Sales	SPI
		Benicar*2		30,300		47,700		17,400	36,200		15,200	50,200		24,900		8,200	13,400		6,000	54	%	27,400
		(mil$)		(280	)	(443	)		(336	)		(456	)	(228	)		(120	)				(241	)
		WelChol*2		12,600		14,000		1,400	11,000		1,100	14,800		6,600		700	3,600		400	55	%	7,400
		(mil $)		(116	)	(130	)		(102	)		(134	)	(61	)		(32	)				(65	)
	LPI
		Venofer*2		19,400		21,000		1,600	15,800		1,500	22,500		10,700		600	5,400		400	50	%	12,200
		(mil $)		(180	)	(195	)		(146	)		(205	)	(98	)		(49	)				(108	)
	DPC
		Floxin Otic*3		7,600		8,200		600	6,000		900	8,200		3,800		-900	1,500		-800	39	%	3,800
		(mil $)		(71	)	(77	)		(53	)		(77	)	(36	)		(13	)				(36	)
		Evoxac*3		2,300		2,900		600	2,000		100	2,900		1,700		300	850		-50	50	%	1,700
		(mil $)		(22	)	(27	)		(18	)		(27	)	(16	)		(7	)				(16	)
	SPG
		Olmetec*2		5,800		14,900		9,100	10,700		6,800	14,600		7,700		4,000	3,500		1,600	45	%	7,400
		(mil EURO)		(43	)	(109	)		(79	)		(106	)	(56	)		(25	)				(53	)
		Mevalotin*2		10,400		5,100		-5,300	3,800		-5,400	5,400		2,700		-1,500	1,400		-1,600	52	%	3,000
		(mil EURO)		(78	)	(38	)		(28	)		(39	)	(20	)		(10	)				(21	)

*1 Exchange rate 1$=standard(actual)

	1$=	105		105	105		105	105		105
		(107	)		(111	)		(116	)
*2     Exchange rate (SPI:Sankyo Pharma Inc., LPI: Luitpold Pharmaceuticals Inc., SPG:Sankyo Pharma GmbH)
	1$ =	108		108	108		110
	1EURO=	134		136	136		137
*3     Exchange rate (DPC:Daiichi Pharmaceutical Corporation) First half / Second half
	1$=	107		110/105	112		105	116		105

* Sale S:Sankyo, D:Daiichi Pharmaceuticals

** Accounting term of overseas subsidiaries(SPI,LPI,SPG) is from January to December.

3

5 Status in R&D Pipeline

(Change from the announcement of November 2005)

Development Stage

Development Code Number         (Generic Name)	Brand Name	Before Change	After Change	Remarks
LX-A (loxoprofen sodium)	LOXONIN POULTICE	Japan:Application (2003.6)	Japan:Approval (2006.1)	Anti-inflammatory and analgesic(poultice)
KMD-3213 (silodosin)	URIEF	Japan:Application (2004.6)	Japan:Approval (2006.1)	Improvement of dysuria associated with benign prostatic hyperplasia(oral)
DU-176b	—	Japan:P- I	Japan:P- II	Oral favtor Xa inhibitor
CS-023	—	Japan:P- I	Japan:P- II	Antibiotics(injection)
SUN A0026 (faropenem medoxomil)	—	USA:Application preparation	USA:Application (2005.12)	Antibiotics(oral), Licensed-out to Replidyne in the USA

New project

Therapeutic Area	Development Code Number	Class	Therapeutic Target	Origin	Region	Devoloper	Stage
Cardiovascular diseases	KAI-9803	delta-PKC inhibitor	acute cardiac infarction	KAI Pharmaceutical	EU/USA	Sankyo	P - I / II

4

EX-99.3

Exhibit 99.3

January 31, 2006

Consolidated Financial Results

for the First Nine Months of Fiscal 2005

(Nine-Month Period Ended December 31, 2005)

Sankyo Company, Limited

Listed company: DAIICHI SANKYO COMPANY, LIMITED

Stock code number: 4568

Listed exchanges: Tokyo, Osaka, and Nagoya

Head office: Tokyo, Japan

Contact: Mr. Toshio Takahashi, Corporate Officer, General Manager of Corporate Communications Department

Telephone: +81-3-6225-1126

1. Matters Relating to the Preparation of the Quarterly Consolidated Financial Statements

(1)    Adoption of simplified accounting methods:	Yes
“Income taxes” were calculated using a simplified method.
(2)    Accounting methods differing from those adopted for the latest fiscal year:	Yes

Valuation Method of Inventories

Previously, inventories of the Company and its domestic consolidated subsidiaries had been principally stated at cost determined by the average method; however, as of the period under review, inventories are principally stated at the lower of average cost or market. This change resulted in a ¥223 million decline in ordinary income and net income before income taxes and minority interests for the period under review.

Accounting for Allowance for Sales Returns

Previously, the Company and certain domestic consolidated subsidiaries had recorded the maximum possible provision calculated by the accounts receivable method in accordance with the Corporate Tax Law in Japan; however, as of the fiscal period under review, provisions have principally been recorded in amounts not exceeding total sales profits and the elimination loss based on past sales returns. As a result, operating income, ordinary income, and net income before income taxes and minority interests for the period under review declined by ¥122 million.

(3) Changes in the scope of consolidation and application of the equity method: Yes

Consolidated subsidiaries:

Increase:  2

Decrease: 4

Companies accounted for by the equity method:

Increase:  1

Decrease: 0

1

2. Consolidated Financial Results for the First Nine Months of Fiscal 2005

(1) Consolidated Financial Results

	(Figures less than ¥1 million, except per share amounts, have been omitted.)
	Net sales			Operating income			Ordinary income
	Millions of yen	Percent change		Millions of yen	Percent change		Millions of yen	Percent change
First nine months of fiscal 2005	437,829	(1.5	)	72,795	(8.5	)	76,236	(5.9	)
First nine months of fiscal 2004	444,349	(2.6	)	79,533	(2.6	)	81,052	0.1
Fiscal 2004	587,830			84,925			82,506
	Net income			Basic net income per share			Diluted net income per share
	Millions of yen	Percent change		Yen			Yen
First nine months of fiscal 2005	46,265	(17.3	)	108.67			108.65
First nine months of fiscal 2004	55,956	55.2		130.27			130.23
Fiscal 2004	48,282			111.78			111.74

Note:

Percentages for net sales, operating income, ordinary income, and net income represent a change from the corresponding results for the first nine months of previous fiscal years.

(2) Consolidated Financial Position

	Total assets	Shareholders’ equity	Shareholders’ equity ratio	Shareholders’ equity per share
	Millions of yen	Millions of yen	%	Yen
First nine months of fiscal 2005	946,185	713,005	75.4	1,686.58
First nine months of fiscal 2004	974,805	724,648	74.3	1,687.12
Fiscal 2004	976,230	716,587	73.4	1,667.76

Overview of Results of Operations

On September 28, 2005, Sankyo Company Limited and Daiichi Pharmaceutical Co., Ltd., established the joint holding company DAIICHI SANKYO COMPANY, LIMITED, through a stock transfer, and both companies became wholly owned subsidiaries of the new entity.

In the first nine months of fiscal 2005, net sales edged down 1.5%, to ¥437,829 million, operating income declined 8.5%, to ¥72,795 million, ordinary income dipped 5.9%, to ¥76,236 million, and net income fell 17.3%, to ¥46,265 million, compared with the same period of the previous fiscal year.

Although sales of our strategic global product olmesartan, an antihypertensive agent, grew substantially in the United States where it is sold as Benicar^® and in Europe and Japan where it is sold as Olmetec^®, lower sales of our flagship product Mevalotin^®, an antihyperlipidemic agent; the transfer of sales of Espo^®, a drug for the treatment of renal anemia, Gran^®, a drug for the treatment of leukopenia, and Alesion^®, a drug for the treatment of allergic disorders; and the exclusion of Nippon Daiya Valve Co., Ltd., and Sankyo Foods Co., Ltd., from the scope of consolidation led to a slight decline in net sales.

Operating income and ordinary income declined as a result of such factors as an increase in R&D expenses stemming from the start of Phase 3 clinical trials for CS-747, an antiplatelet agent.

2

Net income was down due to the aforementioned factors as well as the absence of ¥10,697 million in extraordinary income from the sale of land on the site of Sankyo’s former Tanashi Plant recorded in the same period of the previous fiscal year.

Overview of Financial Position

Total assets at the end of the period under review declined ¥30,045 million, to ¥946,185 million, compared with the end of the previous fiscal year. This decrease is primarily attributable to a ¥33,717 million decline in cash and time deposits as a result of dividend payments to the parent company and treasury stock purchases.

Shareholders’ equity slid ¥3,582 million, to ¥713,005 million, compared with the end of the previous fiscal year, owing to a decrease in shareholders’ equity related to dividend payments to the parent company as well as purchases and retirements of treasury stock, which outweighed an increase in net unrealized gain on marketable investment securities due to higher stock prices.

As a result, the shareholders’ equity ratio rose 2.0 percentage points, to 75.4%, compared with the end of the previous fiscal year.

3

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Millions of yen)
	As of March 31, 2005			As of December 31, 2005			Change		As of December 31, 2004
	Amount		%	Amount		%	Amount		Amount		%
ASSETS
I        Current assets:
1. Cash and time deposits	175,960			142,243			(33,717	)	169,601
2. Trade notes and accounts receivable	162,442			162,974			532		174,069
3. Marketable securities	146,632			153,501			6,869		131,728
4. Parent company stock	—			7,551			7,551		—
5. Inventories	89,979			83,394			(6,585	)	91,521
6. Deferred tax assets	21,832			21,930			97		18,079
7. Other current assets	9,704			12,221			2,517		8,736
Allowance for doubtful accounts	(483	)		(738	)		(254	)	(561	)
Total current assets	606,067		62.1	583,079		61.6	(22,988	)	593,174		60.9
II      Non-current assets:
1. Property, plant and equipment:
(1) Buildings and structures	111,966			110,967			(999	)	102,824
(2) Machinery, equipment and vehicles	31,831			29,105			(2,726	)	31,166
(3) Land	30,655			32,347			1,692		30,630
(4) Construction in progress	10,005			4,303			(5,702	)	20,555
(5) Other	11,980			13,593			1,613		11,080
Total property, plant and equipment, net	196,439		20.1	190,316		20.1	(6,122	)	196,257		20.1
2. Intangible assets:
(1) Goodwill, net	845			621			(223	)	919
(2) Other, net	24,181			18,293			(5,888	)	37,259
Total intangible assets, net	25,026		2.6	18,914		2.0	(6,111	)	38,179		3.9
3. Investments and other assets:
(1) Investment securities	114,480			125,945			11,464		110,442
(2) Long-term loans	5,876			5,723			(153	)	5,930
(3) Deferred tax assets	14,967			7,792			(7,174	)	14,607
(4) Other assets	13,702			14,726			1,023		16,571
Allowance for doubtful accounts	(329	)		(312	)		16		(356	)
Total investments and other assets	148,696		15.2	153,874		16.3	5,177		147,194		15.1
Total non-current assets	370,163		37.9	363,106		38.4	(7,057	)	381,630		39.1
Total assets	976,230		100.0	946,185		100.0	(30,045	)	974,805		100.0

4

	(Millions of yen)
	As of March 31, 2005				As of December 31, 2005				Change		As of December 31, 2004
	Amount		%		Amount		%		Amount		Amount		%
LIABILITIES
I        Current liabilities
1. Trade notes and accounts payable	54,435				43,948				(10,486	)	53,907
2. Short-term bank loans	16,699				10,257				(6,442	)	13,364
3. Income taxes payable	16,904				13,621				(3,282	)	18,529
4. Deferred tax liabilities	689				895				205		564
5. Accrued bonuses	13,481				—				(13,481	)	7,166
6. Allowance for sales returns	476				546				69		495
7. Allowance for sales rebates	1,022				1,359				336		1,391
8. Allowance for contingent losses	—				2,240				2,240		—
9. Other current liabilities	70,002				74,301				4,299		66,107
Total current liabilities	173,712		17.8		147,171		15.6		(26,541	)	161,526		16.6
II      Non-current liabilities
1. Long-term debt	3,373				3,636				262		3,473
2. Deferred tax liabilities	441				520				79		75
3. Retirement and severance benefits	66,843				65,616				(1,226	)	70,061
4. Directors’ retirement and severance benefits	1,830				1,407				(423	)	1,811
5. Other non-current liabilities	4,006				3,850				(155	)	3,959
Total non-current liabilities	76,495		7.8		75,031		7.9		(1,464	)	79,381		8.1
Total liabilities	250,208		25.6		222,203		23.5		(28,005	)	240,907		24.7
MINORITY INTERESTS
Minority interests	9,434		1.0		10,976		1.1		1,542		9,249		1.0
SHAREHOLDERS’ EQUITY
I        Common stock	68,793		7.0		68,793		7.3		—		68,793		7.0
II      Additional paid-in capital	66,862		6.8		66,862		7.1		—		66,862		6.9
III     Retained earnings	580,514		59.5		537,304		56.8		(43,209	)	588,188		60.3
IV    Net unrealized gain on marketable investment securities	27,857		2.9		43,034		4.5		15,177		26,016		2.7
V      Translation adjustments	(7,026	)	(0.7	)	(2,990	)	(0.3	)	4,036		(4,818	)	(0.5	)
VI    Treasury stock at cost	(20,412	)	(2.1	)	—		—		20,412		(20,393	)	(2.1	)
Total shareholders’ equity	716,587		73.4		713,005		75.4		(3,582	)	724,648		74.3
Total liabilities, minority interests and shareholders’ equity	976,230		100.0		946,185		100.0		(30,045	)	974,805		100.0

5

(2) Consolidated Statements of Income

	(Millions of yen)
	First nine months of fiscal 2004		First nine months of fiscal 2005		Change		Fiscal 2004
	Amount	%	Amount	%	Amount		Amount	%
I        Net sales	444,349	100.0	437,829	100.0	(6,520	)	587,830	100.0
II      Cost of sales	159,599	35.9	145,884	33.3	(13,715	)	213,874	36.4
Gross profit	284,749	64.1	291,944	66.7	7,195		373,956	63.6
Provision for sales returns	33	0.0	69	0.0	36		15	0.0
Adjusted gross profit	284,715	64.1	291,874	66.7	7,159		373,940	63.6
III     Selling, general and administrative expenses	205,181	46.2	219,078	50.1	13,897		289,015	49.2
Operating income	79,533	17.9	72,795	16.6	(6,737	)	84,925	14.4
IV    Non-operating income	4,613	1.0	6,460	1.5	1,847		6,425	1.1
V      Non-operating expenses	3,093	0.7	3,020	0.7	(73	)	8,844	1.5
Ordinary income	81,052	18.2	76,236	17.4	(4,816	)	82,506	14.0
VI    Extraordinary income	14,738	3.3	5,569	1.3	(9,169	)	15,775	2.7
VII   Extraordinary losses	4,558	1.0	9,271	2.1	4,713		20,603	3.5
Net income before income taxes and minority interests	91,233	20.5	72,534	16.6	(18,699	)	77,678	13.2
Income tax expenses	34,764	7.8	25,982	5.9	(8,781	)	28,674	4.9
Minority interests	513	0.1	285	0.1	(227	)	722	0.1
Net income	55,956	12.6	46,265	10.6	(9,690	)	48,282	8.2

6

(3) Segment Information

[Operating Segments]

	(Millions of yen)
First nine months of fiscal 2004	Pharmaceuticals	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	352,465	91,883	444,349	—		444,349
(2) Inter-segment sales and transfers	713	1,481	2,195	(2,195	)	—
Total	353,179	93,365	446,544	(2,195	)	444,349
Operating expenses	276,759	90,828	367,588	(2,772	)	364,815
Operating income	76,419	2,536	78,956	577		79,533

	(Millions of yen)
First nine months of fiscal 2005	Pharmaceuticals	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	350,761	87,067	437,829	—		437,829
(2) Inter-segment sales and transfers	425	1,019	1,444	(1,444	)	—
Total	351,186	88,086	439,273	(1,444	)	437,829
Operating expenses	280,881	85,953	366,835	(1,802	)	365,033
Operating income	70,305	2,133	72,438	357		72,795

	(Millions of yen)
Fiscal 2004	Pharmaceuticals	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	454,710	133,120	587,830	—		587,830
(2) Inter-segment sales and transfers	922	1,723	2,646	(2,646	)	—
Total	455,633	134,843	590,476	(2,646	)	587,830
Operating expenses	378,137	128,256	506,393	(3,488	)	502,904
Operating income	77,495	6,587	84,083	842		84,925

Notes:

1. Method of classifying operating segments

Classifications into ‘Pharmaceuticals’ and ‘Other’ are based on a consideration of product type, market characteristics and other factors.

2. Main products in each operating segment

Operating segments		Main products
Pharmaceuticals		Ethical drugs, healthcare products
Other
	Food	Food products and additives
	Agrochemicals	Insecticides, herbicides, and fungicides
	Other	Chemical products and veterinary drugs

7

[Geographic Segments]

	(Millions of yen)
First nine months of fiscal 2004	Japan	North America	Other		Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	353,821	56,818	33,709		444,349	—		444,349
(2) Inter-segment sales and transfers	9,147	2,338	2,514		14,001	(14,001	)	—
Total	362,969	59,157	36,224		458,350	(14,001	)	444,349
Operating expenses	292,590	47,280	39,201		379,072	(14,256	)	364,815
Operating income (loss)	70,379	11,876	(2,977	)	79,278	255		79,533

	(Millions of yen)
First nine months of fiscal 2005	Japan	North America	Other		Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	327,588	74,969	35,271		437,829	—		437,829
(2) Inter-segment sales and transfers	11,955	4,203	3,161		19,321	(19,321	)	—
Total	339,544	79,172	38,433		457,150	(19,321	)	437,829
Operating expenses	287,095	59,022	38,599		384,718	(19,684	)	365,033
Operating income (loss)	52,448	20,149	(166	)	72,432	363		72,795

	(Millions of yen)
Fiscal 2004	Japan	North America	Other		Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	461,748	76,902	49,178		587,830	—		587,830
(2) Inter-segment sales and transfers	12,119	3,424	3,466		19,010	(19,010	)	—
Total	473,867	80,327	52,645		606,841	(19,010	)	587,830
Operating expenses	400,554	67,184	53,956		521,694	(18,789	)	502,904
Operating income (loss)	73,313	13,143	(1,310	)	85,146	(220	)	84,925

Notes:

1. Method of classifying geographic segments

Geographic segments are classified on the basis of geographic proximity.

2. Countries and regions included in segments other than Japan

North America: the United States

Other: Germany, the United Kingdom, France, Spain, Italy, Taiwan, and other

8

[Overseas Net Sales]

	(Millions of yen)
First nine months of fiscal 2004	North America	Europe	Other areas	Total
I        Overseas net sales	89,637	64,203	12,051	165,892
II      Consolidated net sales				444,349
III     Percentage of overseas net sales to consolidated net sales (%)	20.2	14.4	2.7	37.3

	(Millions of yen)
First nine months of fiscal 2005	North America	Europe	Other areas	Total
I        Overseas net sales	104,322	56,415	14,492	175,230
II      Consolidated net sales				437,829
III     Percentage of overseas net sales to consolidated net sales (%)	23.8	12.9	3.3	40.0

	(Millions of yen)
Fiscal 2004	North America	Europe	Other areas	Total
I        Overseas net sales	114,949	85,372	15,324	215,645
II      Consolidated net sales				587,830
III     Percentage of overseas net sales to consolidated net sales (%)	19.6	14.5	2.6	36.7

Notes:

1. Method of classifying countries and regions

Countries and regions are classified on the basis of geographic proximity.

2. Countries and regions included in each area

North America: the United States and Canada

Europe: Germany, the United Kingdom, France, Spain, Italy, Ireland, Switzerland, and others

Other areas: Asia, the Middle East, Latin America, and others

3. Overseas net sales are sales of the Company and its consolidated subsidiaries which are transacted in countries or regions outside of Japan.

9

EX-99.4

Exhibit 99.4

January 31, 2006

Consolidated Financial Results

for the First Nine Months of Fiscal 2005

(Nine-Month Period Ended December 31, 2005)

Daiichi Pharmaceutical Co., Ltd.

Listed company name: DAIICHI SANKYO COMPANY, LIMITED

Stock code number: 4568

Listed exchanges: Tokyo, Osaka, and Nagoya

Head office: Tokyo, Japan

Contact: Mr. Toshio Takahashi, Corporate Officer, General Manager of Corporate Communications Department

Telephone: +81-3-6225-1126

1. Matters Relating to the Preparation of the Quarterly Consolidated Financial Statements

(1)    Adoption of simplified accounting methods:	None
(2)    Accounting methods differing from those adopted for the latest fiscal year:	Yes

Depreciation and Amortization of Buildings

Buildings (excluding fixtures) purchased on and after April 1, 1998, had been depreciated using the declining-balance method, however, as of the period under review the Company depreciates such buildings using the straight-line method. This change resulted in a ¥160 million increase in operating income, ordinary income and net income before income taxes and minority interests for the period under review.

Impairment of Property, Plant and Equipment

As of the period under review, the Company adopted the new accounting standard for impairment of property, plant and equipment (“Opinion Concerning Establishment of Accounting Standard for Impairment of Fixed Assets” issued by the Business Accounting Deliberation Council on August 9, 2002) and the implementation guidance for the accounting standard for impairment of fixed assets (the Financial Accounting Standard Implementation Guidance No. 6 issued by the Accounting Standards Board of Japan on October 31, 2003). As a result of this adoption, net income before income taxes and minority interests decreased by ¥1,339 million.

(3) Changes in the scope of consolidation and application of the equity method: Yes

Consolidated subsidiaries:

Increase: 0

Decrease: 6

Companies accounted for by the equity method:

Increase: 3

Decrease: 0

1

2. Consolidated Financial Results for the First Nine Months of Fiscal 2005

(1) Consolidated Financial Results

	(Figures less than ¥1 million, except per share amounts, have been omitted.)
	Net sales			Operating income		Ordinary income
	Millions of yen	Percent change		Millions of yen	Percent change	Millions of yen	Percent change
First nine months of fiscal 2005	266,593	5.0		60,970	26.2	62,793	26.5
First nine months of fiscal 2004	253,782	(0.2	)	48,327	9.1	49,635	12.1
Fiscal 2004	328,534			56,063		57,320

	Net income			Basic net income per share	Diluted net income per share
	Millions of yen	Percent change		Yen	Yen
First nine months of fiscal 2005 First nine months of fiscal 2004	34,922 25,336	37.8 (0.7	)	129.84 94.36	129.80 94.33
Fiscal 2004	37,175			137.95	137.90

Note:

Percentages for net sales, operating income, ordinary income, and net income represent a change from the corresponding results for the first nine months of previous fiscal years.

(2) Consolidated Financial Position

	Total assets	Shareholders’ equity	Shareholders’ equity ratio	Shareholders’ equity per share
	Millions of yen	Millions of yen	%	Yen
First nine months of fiscal 2005	574,918	464,180	80.7	1,722.89
First nine months of fiscal 2004	540,533	437,924	81.0	1,631.54
Fiscal 2004	546,555	448,563	82.1	1,670.71

Overview of Results of Operations

On September 28, 2005, Daiichi Pharmaceutical Co., Ltd. and Sankyo Company Limited established DAIICHI SANKYO COMPANY, LIMITED, under which both companies became wholly owned subsidiaries, marking the start of operations as the DAIICHI SANKYO Group.

Regarding prescription drugs, sustained efforts to control healthcare costs in Japan continued to create harsh market conditions. Amid these conditions, the Daiichi Pharmaceutical Group further augmented its efforts to provide information related to drug efficacy and safety. As a result, consolidated net sales increased 4.7% from the level in the same period of fiscal 2004, to ¥172,815 million, supported by growth in sales of such mainstay products as Cravit^®, a broad-spectrum oral antibacterial agent; Artist^®, a long-acting beta-blocker; Zyrtec^®, a long-acting selective H1 receptor antagonist for the treatment of allergic diseases; Mobic^®, a non-steroidal anti-inflammatory agent; HANP^®, an agent for acute heart failure; and Topotecin, an anticancer drug. Overseas prescription drug sales rose 20.2%, to ¥51,194 million, reflecting the strong bulk exports of the antibacterial agent levofloxacin to North America and Europe as well as the yen’s depreciation against foreign currencies. Thus, consolidated net sales were up both in Japan and overseas.

In OTC drug operations and fine chemicals operations, the Daiichi Pharmaceutical Group faced harsh market conditions that depressed consolidated net sales.

2

As a result, in the first nine months of fiscal 2005, the Daiichi Group generated net sales of ¥266,593 million, reflecting a 5.0% increase from the same period of the previous fiscal year. The Group also made steady progress in terms of income. Operating income surged 26.2%, to ¥60,970 million, ordinary income rose 26.5%, to ¥62,793 million, and net income soared 37.8%, to ¥34,922 million, owing in part to cost reductions stemming from the establishment of Daiichi Pharmatech Co., Ltd., that helped to offset an increase in expenses attributable to the advancement of global R&D and business integration preparations.

As for results for the full fiscal year ending March 31, 2006, we expect to meet our projections as presented at the time of the interim results announcement. In addition, in the fourth quarter of fiscal 2005, we anticipate the recording of a business integration-related loss as well as a portion of lump-sum income for Plavix^®.

Overview of Financial Position

Total assets at the end of the period under review rose ¥28,363 million, to ¥574,918 million, compared with the end of the previous fiscal year. This increase is primarily attributable to a ¥19,771 million rise due to an increase in the market value of investment securities.

Shareholders’ equity grew ¥15,617 million, to ¥464,180 million, compared with the end of the previous fiscal year, owing to a ¥15,942 million increase in the valuation difference on other securities due to the reevaluation of investment securities, which offset a decrease in retained earnings attributable to the payment of dividends and the retirement of treasury stock.

3

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Millions of yen)
	As of March 31, 2005			As of December 31, 2005			Change		As of December 31, 2004
	Amount		%	Amount		%	Amount		Amount		%
ASSETS
I        Current assets:
1. Cash and time deposits	16,395			20,921			4,526		19,782
2. Trade notes and accounts receivable	88,168			115,725			27,556		111,670
3. Marketable securities	107,514			76,489			(31,025	)	78,327
4. Parent company stock	—			5,919			5,919		—
5. Mortgage-backed securities	20,000			18,000			(2,000	)	20,000
6. Inventories	40,486			34,494			(5,991	)	37,439
7. Deferred tax assets	13,826			11,616			(2,209	)	16,556
8. Other current assets	13,496			16,694			3,197		13,393
Allowance for doubtful accounts	(50	)		(44	)		6		(234	)
Total current assets	299,836		54.9	299,817		52.1	(19	)	296,935		54.9
II      Non-current assets:
1. Property, plant and equipment:
(1) Buildings and structures	55,969			55,521			(448	)	55,882
(2) Machinery, equipment and vehicles	19,705			19,902			196		20,485
(3) Land	17,526			16,627			(898	)	17,693
(4) Construction in progress	6,029			5,691			(337	)	4,488
(5) Other	6,372			6,537			165		6,472
Total property, plant and equipment, net	105,602			104,280			(1,322	)	105,022
2. Intangible assets:
(1) Goodwill, net	—			9,754			9,754		—
(2) Other, net	6,796			5,729			(1,066	)	7,126
Total intangible assets, net	6,796			15,484			8,688		7,126
3. Investments and other assets:
(1) Investment securities	105,461			125,232			19,771		113,258
(2) Long-term loans	763			930			166		1,596
(3) Deferred tax assets	3,167			3,219			52		3,421
(4) Other assets	25,250			26,272			1,021		13,400
Allowance for doubtful accounts	(323	)		(317	)		5		(226	)
Total investments and other assets	134,319			155,337			21,017		131,450
Total non-current assets	246,718		45.1	275,101		47.9	28,383		243,598		45.1
Total assets	546,555		100.0	574,918		100.0	28,363		540,533		100.0

4

	(Millions of yen)
	As of March 31, 2005				As of December 31, 2005				Change		As of December 31, 2004
	Amount		%		Amount		%		Amount		Amount		%
LIABILITIES
I        Current liabilities:
1. Trade notes and accounts payable	17,182				21,394				4,212		22,451
2. Short-term bank loans	18				5				(13	)	13
3. Income taxes payable	8,401				14,060				5,659		7,858
4. Allowance for sales returns and rebates	1,869				3,017				1,147		3,382
5. Accrued expenses and other current liabilities	46,867				42,124				(4,742	)	43,086
Total current liabilities	74,339		13.6		80,602		14.0		6,263		76,793		14.2
II      Non-current liabilities:
1. Long-term debt	5				5				(0	)	14
2. Deferred tax liabilities	9,791				20,597				10,805		2,122
3. Accrued retirement and severance benefits	4,754				4,850				95		18,578
4. Accrued directors’ retirement and severance benefits	2,200				1,452				(747	)	2,131
5. Other non-current liabilities	5,318				2,870				(2,447	)	718
Total non-current liabilities	22,070		4.0		29,776		5.2		7,705		23,566		4.4
Total liabilities	96,409		17.6		110,378		19.2		13,969		100,359		18.6
MINORITY INTERESTS
Minority interests	1,582		0.3		359		0.1		(1,223	)	2,249		0.4
SHAREHOLDERS’ EQUITY
I        Common stock	45,246		8.3		45,246		7.9		—		45,246		8.4
II      Additional paid-in capital	49,130		9.0		48,961		8.5		(169	)	49,130		9.1
III     Retained earnings	376,144		68.8		336,234		58.5		(39,910	)	365,077		67.5
IV    Net unrealized gain on investment securities	18,215		3.3		34,158		5.9		15,942		18,682		3.5
V      Foreign currency translation adjustments	(1,305	)	(0.2	)	(419	)	(0.1	)	886		(1,365	)	(0.3	)
VI    Treasury stock at cost	(38,867	)	(7.1	)	—		—		38,867		(38,848	)	(7.2	)
Total shareholders’ equity	448,563		82.1		464,180		80.7		15,617		437,924		81.0
Total liabilities, minority interests and shareholders’ equity	546,555		100.0		574,918		100.0		28,363		540,533		100.0

5

(2) Consolidated Statements of Income

	(Millions of yen)
	First nine months of fiscal 2004			First nine months of fiscal 2005			Change		Fiscal 2004
	Amount		%	Amount		%	Amount		Amount		%
I        Net sales	253,782		100.0	266,593		100.0	12,811		328,534		100.0
II      Cost of sales	79,838		31.5	73,778		27.7	(6,060	)	100,834		30.7
Gross profit	173,943		68.5	192,815		72.3	18,872		227,699		69.3
III     Selling, general and administrative expenses	125,616		49.5	131,845		49.4	6,228		171,636		52.2
Operating income	48,327		19.0	60,970		22.9	12,643		56,063		17.1
IV    Non-operating income	1,900			2,472			571		2,795
V      Non-operating expenses	592			649			57		1,538
Ordinary income	49,635		19.6	62,793		23.6	13,157		57,320		17.5
VI    Extraordinary gains	1,224			181			(1,042	)	16,983
VII   Extraordinary losses	8,288			3,976			(4,312	)	9,633
Net income before income taxes and minority interests	42,571		16.8	58,998		22.1	16,426		64,670		19.7
Income tax expenses	17,908			24,550			6,641		28,843
Minority interests in net losses of subsidiaries	(673	)		(475	)		198		(1,348	)
Net income	25,336		10.0	34,922		13.1	9,586		37,175		11.3

6

(3) Segment Information

[Operating Segments]

	(Millions of yen)
First nine months of fiscal 2004	Pharmaceuticals	Other		Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	241,328	12,454		253,782	—		253,782
(2) Inter-segment sales and transfers	144	2,003		2,148	(2,148	)	—
Total	241,472	14,458		255,930	(2,148	)	253,782
Operating expenses	187,380	14,544		201,925	3,529		205,455
Operating income (loss)	54,091	(86	)	54,005	(5,677	)	48,327

	(Millions of yen)
First nine months of fiscal 2005	Pharmaceuticals	Other	Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	255,276	11,317	266,593	—		266,593
(2) Inter-segment sales and transfers	159	1,905	2,064	(2,064	)	—
Total	255,435	13,223	268,658	(2,064	)	266,593
Operating expenses	187,982	12,887	200,869	4,753		205,623
Operating income	67,453	335	67,789	(6,818	)	60,970

	(Millions of yen)
Fiscal 2004	Pharmaceuticals	Other		Total	Eliminations & corporate		Consolidated
Net sales
(1) External sales	311,844	16,689		328,534	—		328,534
(2) Inter-segment sales and transfers	73	2,783		2,857	(2,857	)	—
Total	311,917	19,473		331,391	(2,857	)	328,534
Operating expenses	247,821	19,552		267,373	5,096		272,470
Operating income (loss)	64,096	(78	)	64,017	(7,953	)	56,063

Notes:

1. Method of classifying operating segments

Classifications into ‘Pharmaceuticals’ and ‘Other’ are based on a consideration of product type, market characteristics, and other factors.

2. Main products in each operating segment

Pharmaceuticals: Pharmaceutical products, diagnostic and radiopharmaceutical products, and over-the-counter drugs

Other: Fine chemicals, safety testing and research, real estate rental, and other

3. Changes in accounting policies

(First nine months of fiscal 2005)

Buildings (excluding fixtures) purchased on and after April 1, 1998, had been depreciated using the declining-balance method, however, as of the period under review the Company depreciates such buildings using the straight-line method. This change resulted in a ¥160 million increase in operating income due to a ¥152 million decline in operating expenses in the “Pharmaceuticals” business and a ¥7 million decline in operating expenses in the “Other” business.

[Geographic Segment]

Information by geographic segment has been omitted because more than 90% of total segment sales and segment assets were attributable to Japan.

7

[Overseas Net Sales]

	(Millions of yen)
First nine months of fiscal 2004	Americas	Europe	Asia and other	Total
I        Overseas net sales	30,364	11,161	6,609	48,135
II      Consolidated net sales				253,782
III     Percentage of overseas net sales to consolidated net sales (%)	12.0	4.4	2.6	19.0

	(Millions of yen)
First nine months of fiscal 2005	Americas	Europe	Asia and other	Total
I        Overseas net sales	36,485	12,250	6,930	55,666
II      Consolidated net sales				266,593
III     Percentage of overseas net sales to consolidated net sales (%)	13.7	4.6	2.6	20.9

	(Millions of yen)
Fiscal 2004	Americas	Europe	Asia and other	Total
I        Overseas net sales	46,608	13,392	8,588	68,589
II      Consolidated net sales				328,534
III     Percentage of overseas net sales to consolidated net sales (%)	14.2	4.1	2.6	20.9

Notes:

1. Geographic areas are classified on the basis of geographic proximity.

2. Principal countries for each geographic area include the following:

(1) Americas:         United States

(2) Europe:             Germany, France, Italy

(3) Asia and other: China, Taiwan, Korea

3. Overseas net sales are defined as net sales of the Company and its consolidated subsidiaries transacted in countries or regions outside of Japan.

8