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| December 17, 2003 |
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| Announcement of the TOB (Takeover Bid) Result |
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| Mitsubishi Chemical Corporation |
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At the meeting of the board of directors on November 12, 2003, Mitsubishi Chemical Corporation (here-in-after referred as "MCC"), resolved to purchase the common shares of our consolidated subsidiary, Mitsubishi Pharma Corporation (here-in-after referred as "MPC") through TOB. The TOB procedure had started from November 13 and it ended on December 16, 2003 with the following outcomes:
| 1. |
Outline of TOB (as reported on November 12, 2003) |
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(1) |
Registered company name |
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Mitsubishi Pharma Corporation |
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(2) |
Class of stock to be purchased |
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Common stock |
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(3) |
Period of TOB |
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Thirty-four days from November 13, 2003 (Thursday)
and through December 16, 2003 (Tuesday) |
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(4) |
Purchase price |
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840 yen per share |
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(5) |
Number of shares planned to be purchased |
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68,400,000 shares |
| 2. |
Result of TOB |
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(1) |
Result of application |
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| Number of shares planned to be purchased |
68,400,000 shares |
| Number of shares applied to TOB |
63,545,059 shares |
| Number of purchased shares |
63,545,059 shares |
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(2) |
Result of TOB
We purchased all the shares applied to TOB as above. |
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(3) |
Change of number of owned stock through TOB
| Number of owned stock prior to TOB |
206,663,000 shares (shares held: 45.08%) |
| Number of owned stock after TOB |
270,208,059 shares (shares held: 58.94%) |
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(4) |
Total amount paid for TOB purchase
53,532 million yen |
| 3. |
Settlement |
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(1) |
Agent for TOB |
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Nikko Citigroup Limited
2-20, Akasaka 5-chome, Minato-ku, Tokyo
Nikko Cordial Securities, Inc.
3-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo |
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(2) |
Commencement date of settlement |
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December 24, 2003 (Wednesday) |
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(3) |
Settlement method
The notice of purchase will be delivered by mail to the applying shareholders (or to the standing proxy in the case of shareholders residing outside Japan) without delay after the end of the TOB period.
Payment of purchase price will be made in cash. The TOB agent will remit the purchase price without delay after the commencement date of settlement to the place designated by the applying shareholders. |
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| 4. |
Place at which copy of TOB report is offered for public inspection |
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| Name |
Location |
| Mitsubishi Chemical Corporation |
33-8, Shiba 5-chome, Minato-ku, Tokyo |
| Tokyo Stock Exchange Inc. |
2-1, Kabuto-cho, Nihonbashi, Chuo-ku, Tokyo |
| Osaka Securities Exchange Co., Ltd. |
6-10, Kitahama 1-chome, Chuo-ku, Osaka |
| Fukuoka Stock Exchange |
14-2, Tenjin 2-chome, Chuo-ku, Fukuoka |
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| For further information, please contact: |
| Public Relations and Investor Relations Department |
| Mitsubishi Chemical Corporation |
| TEL: 81-(0)3-6414-3730 |
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