Strengthen engineering plastics business! Changes in Mitsubishi Chemical s business shares

On April 3, Mitsubishi Chemical Group (MCG Group) announced that it has transferred 25% of the shares of Mitsubishi Engineering Plastics (MEP) to Mitsubishi Gas Chemical Corporation, effective from April 3, 2023 . At the same time, the MCG Group acquired the high-value polycarbonate resin XANTAR™ and polybutylene terephthalate resin NOVADURAN™ businesses from Mitsubishi Engineering Plastics through an absorption spin-off.

Before this transaction, Mitsubishi Gas Chemical and Mitsubishi Chemical each held 50% of the shares of Mitsubishi Engineering Plastics and jointly controlled Mitsubishi Engineering Plastics. After the transaction, Mitsubishi Gas Chemical and Mitsubishi Chemical hold 75% and 25% of the shares of Mitsubishi Engineering Plastics respectively, and Mitsubishi Gas Chemical controls Mitsubishi Engineering Plastics alone.

In February 2022, Mitsubishi Gas Chemical Co., Ltd. and Mitsubishi Chemical Co., Ltd. signed the "Equity Transfer Agreement" and "Shareholder Agreement", Mitsubishi Gas Chemical acquired a 25% stake in Mitsubishi Engineering-Plastics Corporation from Mitsubishi Chemical. Mitsubishi Engineering Plastics is mainly engaged in the production and sales of engineering plastics.

Mitsubishi Gas Chemical was established in Japan on April 21, 1951. It is a listed company on the Tokyo Stock Exchange. Its main business is basic chemicals and specialty chemicals, providing basic chemicals, fine chemicals and functional materials. series of products.

Mitsubishi Engineering Plastics was established in Japan on March 1, 1994. Its main business is the production and sales of engineering plastics, including polycarbonate, polybutylene terephthalate, polyacetal, modified polyphenylene ether and poly amides. The ultimate controllers of Mitsubishi Engineering Plastics are Mitsubishi Gas Chemical and Mitsubishi Chemical Group Corporation. Mitsubishi Chemical Group Co., Ltd. is mainly engaged in high-performance product business, chemical industry business, healthcare business and industrial gases business.