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| March 12, 2002 |
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| Mitsubishi Chemical and Yoshitomi Fine Chemicals
to Integrate Active Pharmaceuticals Ingredients Business |
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Mitsubishi Chemical Corporation
Mitsubishi Pharma Corporation |
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Mitsubishi Chemical Corporation and Mitsubishi Pharma Corporation have begun to
study the feasibility of integrating Mitsubishi Chemical's active pharmaceutical
ingredient and a part of fine chemicals businesses with Yoshitomi Fine Chemicals,
Ltd., a subsidiary of Mitsubishi Pharma. The companies are planning to integrate
at October 1,2002.
The active pharmaceutical ingredient (API) business of Mitsubishi Chemical has
advanced research and development capabilities with which it currently responds
to a broad range of customer needs, from process development for pharmaceutical
intermediates to the manufacture of active pharmaceutical ingredients. It also
lends basic technologies and improved production methods to its customers. Mitsubishi
Chemical's fine chemicals business manufactures intermediate chemicals using its
proven organic synthesis technology.
Yoshitomi Fine Chemicals has expertise in specialty chemicals used by a wide variety
of industries including plastics additives, chemicals for information paper, biocides
and active pharmaceutical ingredients. The company recently constructed a state-of-the-art
plant for producing active pharmaceutical ingredients and facility for producing
investigational drugs. Yoshitomi Fine Chemicals was founded in October 1996 succeeding
the fine chemicals and active pharmaceutical ingredients businesses of Yoshitomi
Pharmaceutical Industries, Ltd., which became Mitsubishi Pharma at October 1,2001.
The pharmaceuticals industry has recently been undergoing certain changes that
will affect the manufacture and marketing of pharmaceutical products. One change
that will particularly impact pharmaceutical sales is the planned amendment to
the Pharmaceutical Affairs Law, which regulates drug manufacturing. Mitsubishi
Chemical, Mitsubishi Pharma and Yoshitomi Fine Chemicals decided to launch the
business integration discussions in order to create positive new business opportunities
as a result of the amendment of the Pharmaceutical Affairs Law. The companies
determined that integration of their API and fine chemicals businesses would best
meet the new challenges facing the industry.
Outline of Mitsubishi Chemical and Yoshitomi Fine Chemicals is as follows:
Mitsubishi Chemical Corporation (non-consolidated)
| 1. Head office |
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5-2 Marunouchi 2-chome, Chiyoda-ku, Tokyo |
| 2. Business line |
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Manufacture and sale of basic petrochemicals/fiber intermediates,
carbon and agricultural products, specialty chemicals, and others |
| 3. Established |
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June 1, 1950 |
| 4. Paid-in capital |
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Yen 145 billion |
| 5. President |
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Kanji Shono |
| 6. Annual turnover |
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Yen 781.5 billion (for the year ending in March 2001) |
| 7. Major plants |
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Kurosaki Plant (Fukuoka Prefecture), Yokkaichi Plant (Mie Prefecture),
Naoetsu Plant (Niigata Prefecture), and others |
| 8. Research center |
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Yokohama(Kanagawa Prefecture), Tsukuba(Ibaraki Prefecture),
and others |
| 9. Employee force |
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8,144 (as of the end of March 2001) |
Yoshitomi Fine Chemicals, Ltd.
| 1. Head office |
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4-9 Hiranomachi 2-chome, Chuo-ku, Osaka |
| 2. Business line |
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Manufacture and sale of fine chemicals and active pharmaceutical
ingredients |
| 3. Established |
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October 1, 1996 |
| 4. Paid-in capital |
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Yen 4 billion |
| 5. President |
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Masaharu Kuriyama |
| 6. Shareholder |
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Mitsubishi Pharma Corporation (100%) |
| 7. Annual turnover |
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Yen 27 billion (for the year ending in March 2001) |
| 8. Major plants |
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Yoshitomi Plant (Fukuoka Prefecture) and Kusu Plant (Mie Prefecture) |
| 9. Research center |
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Yoshitomi (Fukuoka Prefecture) |
| 10. Employee force |
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382 (as of the end of March 2001) |
| For further information, please contact |
| Public Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81] 3-3283-6274 |
| Office of Public Relations & Investor Relations, |
| Mitsubishi Pharma Corporation |
| Tel: [+81] 3-6201-1696 |
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