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Ube Industries, JSR Corporation, and Mitsubishi Chemical Corporation Announce Start of New Company for Integration of ABS Resin Business

January 9, 2018

TOKYO, January 9, 2018 _ Ube Industries, Ltd., JSR Corporation, and Mitsubishi Chemical Corporation previously signed a shareholders agreement for the integration of the ABS resin businesses of their respective subsidiaries, as announced on March 30, 2017. The integration concerns Techno Polymer Co., Ltd., a wholly-owned subsidiary of JSR, and UMG ABS, Ltd., which is equally owned by Ube Industries (50%) and Mitsubishi Chemical (50%). The integration was scheduled to take effect on October 1, 2017, with Techno Polymer and UMG ABS jointly operating the integrated new company.

The integration is to take the form of an absorption-type split, with UMG ABS as the absorbed company and Techno Polymer as the successor company. The absorption-type split (start of the integrated new company) was scheduled to take effect on October 1, 2017. However, as the press release dated September 1, 2017 stated, the scheduled start was delayed due to the amount of time needed to complete the procedures stipulated in the competition laws, other laws and regulations applicable in relevant countries.

The procedures stipulated in the competition laws, other laws and regulations applicable in relevant countries have now been completed, and the new company will start as scheduled below.

1. Overview of New Company

Company Name Techno-UMG Co., Ltd.
Location Minato-ku, Tokyo
Start date April 1, 2018
Business Description Manufacturing, processing, sales, and R&D for styrene resins (ABS, AS, AES, ASA, and other polymer alloys)
Capital Stock \3,000,000,000
Fiscal Year-End March 31
Shareholders JSR (51%), UMG ABS* (49%)

* UMG ABS following the absorption-type split (UBE and MCC will continue to each own 50%.)

The relevant page

Ube Industries, JSR Corporation, and Mitsubishi Rayon Sign Shareholders Agreement for Integration of ABS Resin Business (March 30, 2017)

Contact

For inquiries please contact
  • Ube Industries, Ltd.
  • Investor Relations & Public Relations Department
  • Corporate Planning & Administration Office
  • Seavans North Building, 1-2-1 Shibaura, Minato-ku, Tokyo 105-8449
  • Phone : +81-3-5419-6110
  • Contact us by Internet.
  • JSR Corporation
  • Corporate Communications Department
  • Phone : +81-3-6218-3517
  • Mitsubishi Chemical Holdings Corporation
  • Public Relations and Investor Relations Office
  • Phone : +81-3-6748-7120