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| September 29, 2008 |
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Mitsubishi Chemical Corporation to Strengthen
White LED and Flat Panel Display Materials Business |
Merger with Kasei Optonix, Ltd. and Enhancement of Production Facility of
Phosphors for White LEDs |
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| Mitsubishi Chemical Corporation |
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This is to announce that Mitsubishi Chemical Corporation (Head office: Minato-ku, Tokyo; President & CEO: Yoshimitsu Kobayashi) will merge with its subsidiary Kasei Optonix, Ltd. (hereinafter "KOX"; Head office: Odawara-shi, Kanagawa; President: Mototoshi Ishida) by absorption, as of April 1, 2009, to further strengthen its phosphor businesses, for which demand has grown as these serve as the main materials for white light emitting diodes (LEDs) and flat panel displays (FPDs).
At the same time, production facilities will be enhanced, as described below, for red and green phosphors, which are used with high brightness white LEDs.
LEDs have garnered attention for its low electricity consumption, thus an effective means of reducing CO2. The demand for white LEDs has grown, particularly for lighting and backlighting used with liquid crystal displays. In the near future, demand for high brightness white LEDs is also expected to surge.
As a core business company of the Mitsubishi Chemical Holdings Group, we have engaged in development and commercialization of phosphors, gallium nitride (GaN) substrates and sealing materials, which are key materials for high brightness white LEDs. These efforts relate to our solid-state lighting business, one of the "nurture" businesses in the Group's former mid-term management plan, and one of the seven next-generation growth businesses as indicated in the Group's current mid-term management plan, APTSIS 10. We have resultantly succeeded in mass-production of phosphors for high brightness white LEDs which creates white light closer to natural sunlight, and began manufacturing and marketing the products in 2006.
While, KOX has engaged in business related to phosphors, X-ray intensifying screens, and fluorescent screens as medical supply products since 1979. Drawing on its technological and marketing capabilities, KOX has expanded as a top-ranked manufacturer in the phosphor market, mainly focusing on the growing FPD phosphor business.
By merging with KOX through absorption, we will strengthen our phosphor businesses, including those for white LEDs and FPDs, by generating synergistic effects from unifying business operations. At the same time, we plan to increase production of phosphors for white LEDs in order to further expand our business in that area.
Outline of the enhancement of production facility for phosphors:
| 1. |
Location of the production facility enhancement: Within (current) Odawara Plant of Kasei Optonix, Ltd. |
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Production capacity: Three times previous capacity |
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Construction period: Beginning September 2008, planned completion September 2009 |
| For further information, please contact |
Public Relations and Investor Relations Department
Mitsubishi Chemical Corporation |
| Tel: +81-(0)3-6414-3730 |
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