Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) hereby announces that it has decided to transfer all MCC group’s shares of Lucite International Japan Co., Ltd. (Lucite Japan; Head office: Chiyoda-ku, Tokyo; Representative Director: Hiroshi Nakayama) to Midorikawa Chemical Industry Co., Ltd. (Midorikawa Chemical; Head office: Taito-ku, Tokyo; Representative Director: Tadao Midorikawa).

 

    Lucite Japan was established as an acrylic composite material production and sales base in Japan for Imperial Chemical Industries of the UK. Since 1993, the company has been operating in Namegata City, Ibaraki Prefecture, responding to domestic demand for acrylic composite material, which is used in applications such as bathtubs, kitchens, and wash basins. Since MCC’s acquisition of Lucite International Group Limited, Lucite Japan has been operating as a group company of MCC. However, MCC has now made the decision to transfer all its shares in Lucite Japan to Midorikawa Chemical as part of portfolio reforms based on Mitsubishi Chemical Holdings Group’s management policy, “Forging the future.” The date of the transfer is scheduled to be April 1 of this year.

 

Overview of Lucite Japan

1.Company name:	Lucite International Japan Ltd.
2.Business activities:	Production and sales of acrylic composite material
3.Location:	-Head Office:  1-1-1 Marunouchi, Chiyoda-ku, Tokyo
	-Production Site:  Namegata City, Ibaraki Prefecture  (Kamiyamahokota Industrial Park)
4.Established:	1993
5.Representative:	Hiroshi Nakayama, Representative Director
6.Capital:	400 million yen

    

       

Overview of Midorikawa Chemical

1.Company name:	Midorikawa Chemical Industry Co., Ltd.
2.Business activities:	Sales and application development of processed plastic products, molding materials, and machinery/tools
3.Location:	-Head Office:  1-4-18 Komagata, Taito-ku, Tokyo
4.Established:	1953
5.Representative:	Tadao Midorikawa, Representative Director
6.Capital:	100 million yen