Mitsubishi Plastics, Inc. (head office: Chuo-ku, Tokyo; President Hiroshi Yoshida) plans to acquire DIATEX Co., Ltd. (head office: Chiyoda-ku, Tokyo; president: Nobuo Saito) and J-Film Corporation (head office: Chiyoda-ku, Tokyo; president: Shuji Shimada), both of which are currently consolidated subsidiaries of Mitsubishi Chemical Corporation. The acquisition will be carried out through stock transfer. Accordingly, Mitsubishi Plastics will acquire the shares of DIATEX from its stockholders Japan Polychem Corporation and Japan Polyethylene Corporation, and the shares of J-Film from its stockholder Japan Polyethylene Corporation. The two companies are planned to become consolidated subsidiaries of Mitsubishi Plastics as of April 1 this year.

 The Mitsubishi Plastics Group, being engaged in manufacturing and selling of industrial materials and films, has many business areas in common with DIATEX and J-Film: the former manufactures agricultural and industrial materials including adhesive tapes and artificial turfs, whereas the latter manufactures packaging materials such as polyethylene films and dry laminating films. Therefore, the acquisition of the two companies through stock transfer to make them members of the Group will generate synergy in various aspects including technology innovation, manufacturing and distribution. In addition, the acquisition is expected to enhance the business portfolio of Mitsubishi Plastics, which is one of the key challenges stated in its ongoing mid-term management plan “APTSIS15-Plus”. Likewise, DIATEX and J-Film can make use of synergy effects: for example, promoting their strategies for business expansion by leveraging the organization network including overseas offices of the Mitsubishi Plastics Group, which they would find it difficult to achieve alone.

 Mitsubishi Plastics concluded that the synergy creation through acquisition of the two companies would be advantageous for DIATEX, J-Film and the Mitsubishi Plastics Group in terms of business strengthening, thus further enhancing the capabilities of the entire Mitsubishi Chemical Holdings Group. Consequently, the two companies will become consolidated subsidiaries of Mitsubishi Plastics through stock transfer as of April 1, 2012 (planned effective date).

 

 

1. DIATEX Co., Ltd.
1) Line of business: Manufacture and sale of materials for logistics, industrial, construction and agricultural use as well as adhesive tapes and artificial turfs
2) Establishment: November, 1962
3) Head office: 7 Kanda Konyacho, Chiyoda-ku, Tokyo, Japan
4) President: Nobuo Saito
5) Paid-in capital: 101 million yen
6) Stockholders:
Japan Polychem Corporation (100% subsidiary of Mitsubishi Chemical Corporation)
Japan Polyethylene Corporation (Japan Polychem Corporation 58%; Japan Polyolefins Co. Ltd. 42%)
7) Sales: 9,300 million yen (as of FY2010)
8) Employees: 305 (as of the end of December, 2010)
9) Organization: Kurobe Plant, Osaka Office, and Kita Nihon Office
10) Affiliate companies:
RYOYOTEX CO.,LTD
SD TEC CO.,LTD
PT.DAIYAPLAS

2. J-Film Corporation
1) Line of business: Manufacture and sale of blown films, T-die method films, dry laminating films
2) Establishment: January 1955
3) Head office: 2-5-15 Higashi Kanda, Chiyoda-ku, Tokyo, Japan
4) Representative Director, President: Shuji Shimada
5) Paid-in capital: 1222 million yen
6) Stockholders:
Japan Polyethylene Corporation (Japan Polychem Corporation 58%; Japan Polyolefins Co. Ltd. 42%)
7) Sales: 24.3 billion yen (as of FY2010)
8) Employees: 686 (as of the end of July, 2011)
9) Organization: Narita Plant, Osaka Business Office, Shizuoka Business Office, Sendai Business Office, Nagoya Sales Office, and Kita Kanto Sales Office
10) Affiliate companies:
J-Film Philippines, Inc.
J-Film Logistics, Inc.
Niigata J-Film, Inc.

 

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