Mitsui Chemicals

Fundamental Agreement to Integrate Film/Sheet Business

December 18, 2009
Mitsui Chemicals, Inc.
Tohcello Co., Ltd.
Mitsui Chemicals Fabro, Inc.

Mitsui Chemicals, Inc. (“MCI”) (Toshikazu Tanaka, President & CEO), Tohcello Co., Ltd. (“Tohcello”) (Kouichi Tominaga, President & CEO), and Mitsui Chemicals Fabro, Inc. (“Fabro”) (Kenji Yoshikawa, President & CEO) announced today, the signing of a Fundamental Agreement to study integration of film/sheet businesses of the three companies.

One of the fundamental strategies of the MCI Group is expansion of high-value added business to achieve sustainable growth. As part of this strategy, the Group decided to intensify its film/sheet businesses. In April 2009, Tochello became a wholly owned company of MCI. The Group is studying integration of MCI's and Fabro's film/sheet business with Tohcello at the core.

Under the Fundamental Agreement, the Companies will study integration of film/sheet businesses by merging operations of Tohcello and Fabro and consolidating them with MCI's related operations to form a new company by October 2010.

The Group's film/sheet business synergy will be maximized by integration of management resources currently spread over different divisions within the Group.

Outline of Tohcello and Mitsui Chemicals Fabro

Company Name Tohcello Co., Ltd. Mitsui Chemicals Fabro, Inc.
Business Area
(Main Areas)
Manufacture processing and sales of packaging and industrial use films Manufacture, processing, and sales of highly functional fabricated films/sheets and daily-use sundries
Establishment January 1929 September 1972
Capital 3,450 million yen 400 million yen
Equity Interest Mitsui Chemicals 100% Mitsui Chemicals 100%
Head Office Chuo-ku, Tokyo Chiyoda-ku, Tokyo
Manufacturing Facilities Ibaraki (Ibaraki Pref.),
Koga (Ibaraki Pref.),
Hamamatsu (Shizuoka Pref.)
Tokushima (Tokushima Pref.:Shikoku Tohcello)
Katsuta (Ibaraki Pref.)
Nagoya (Aichi Pref.)
Anjo (Aichi Pref.)
Employees 978 (consolidated) 278
Sales 63,000 million yen
(consolidated FY 2008)
18,000 million yen (FY 2008)

Attachment

Fundamental Agreement to Integrate Film/Sheet Business(PDF:64KB)open pdf file