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| September 7, 2005 |
| Mitsubishi Rayon Co., Ltd. |
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Notice of increase in domestic and export prices
of MMA & MAA monomer, and functional esters
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Mitsubishi Rayon Co., Ltd. hereby notifies users of its products that prices of its methyl methacrylate (MMA) monomer and methacryl acid (MAA) monomer, and of its functional esters such as butyl methacrylate (BMA) and 2-hydroxyethyl methacrylate (HEMA) – for sale on both the Japanese market and for export to overseas markets -- are to be raised, as set out below.
The price raises will go into effect on shipments from September 26. |
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| MMA monomer & MAA monomer: |
Japanup ¥25 per kilogram
Overseas: up $250-300 per metric ton |
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| Functional esters: |
Japan: up ¥30 per kilogram
Overseas: up $250-300 per metric ton
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As a result of recent increases in crude oil prices, current prices of naphtha refined in Japan have risen above ¥45,000/KL, representing a major increase of more than ¥10,000/KL since the start of 2005. A further increase in the price of naphtha is projected in October or soon thereafter. Mitsubishi Rayon is also having to absorb higher prices of acetone and the various fuels it uses, as well as sharply higher costs across the board, notably in distribution. As a result, the Company has been hit by a steep increase in the cost of production of MMA monomers, and our profitability is declining.
Mitsubishi Rayon has been doing its best to cut costs through the streamlining of operations, but these external factors more than offset any such positive developments, and the Company unfortunately finds itself unable to absorb these higher costs without passing on some of the burden to its customers. |
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| For further inquiries, please contact: |
| Public and Investor Relations Office |
| e-mail:
koho@mrc.co.jp |
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The contents shown herein are accurate as of the time of posting.
