Mitsubishi Plastics, Inc. (head office: Chuo-ku, Tokyo; president: Hiroshi Yoshida) manufactures and sells housings for LCD televisions and other molded plastic parts, as part of its functional plastics business.  Kodama Chemical Industry Co., Ltd. (head office: Taito-ku, Tokyo; president: Ken Ishii), an equity method affiliate of MPI, also molds automotive components, parts for home fixtures, and other molded parts. Amid the current severe climate of this business, Mitsubishi Plastics and Kodama Chemical Industry have signed a comprehensive business alliance agreement in order to maximize their synergy, accelerate the restructuring of each other's business, and increase the corporate value of each company. Details follow.

1. Purpose of Comprehensive Business Alliance
MPI and Kodama Chemical Industry will form a comprehensive business alliance based on the relationship of trust formed through their financial relationship, in order to create synergy and maximize the corporate value of both companies, while leveraging the advantages of each company, as they each restructure their businesses in the field of molded components.

2. What the Comprehensive Business Alliance Entails
The two parties will begin good-faith discussions with the objective of signing agreements defining the particulars and terms to satisfy both parties with regard to the following by end-March 2010.
(1) Joint marketing to expand into new markets and fields
(2) Joint technical development
(3) Personnel exchange based on employee loans
(4) Joint procurement of raw materials
(5) Management of accounts, purchasing, distribution, and the like, and outsourcing of common operations

 

 

Reference: About Kodama Chemical Industry

Name	Kodama Chemical Industry Co., Ltd.
Address	1-1-12 Ueno, Taito-ku, Tokyo
President	Ken Ishii
Businesses	Manufacture and sale of plastic molded products (automotive components and home fixture parts) Sale of extrusion molding machines (e.g. T dies)
Paid-in capital	¥3,021 million
Established	8 March 1946
Main shareholder	Mitsubishi Plastics (20.64%)

■Inquires regarding this material should be directed to the
	Public Relations Section, General Administration Dept., Mitsubishi Plastics Inc. TEL: +81-3-3279-3800