Transfer of Mitsubishi Chemical Agri Dream Co., Ltd.
March 31, 2023
The Mitsubishi Chemical Group (the MCG Group) today concluded a share transfer agreement with Sumikasekisui Film Co., Ltd. (Headquarters: Taito-ku, Tokyo; President: Kazunori Sugiura) for the transfer of all shares of Mitsubishi Chemical Agri Dream Co., Ltd. (MCAD; Headquarters: Chuo-ku, Tokyo; President: Katsutoshi Shibamoto) held by the MCG Group to the company by September 2023.
1. Overview of MCAD
2. Overview of the transferee
3. Purpose of the share transfer
Based on our management policy of “Forging the future,” the MCG Group is promoting portfolio management with a focus on market growth potential, competitiveness, and sustainability, targeting focus markets in light of major global trends.
Demand from agribusiness for the film compounding and coating technologies that MCAD has cultivated is expected to grow to a certain extent in the future. For that reason, we decided to transfer our shares of MCAD based on our belief that it is best to continue to develop and grow its business under the leadership of the best owner.
1. Overview of MCAD
- Company name : Mitsubishi Chemical Agri Dream Co., Ltd.
- Location : 1-2-2 Nihonbashi Hongokucho, Chuo-ku, Tokyo
- Capital : 300 million yen
- Shareholder : Mitsubishi Chemical Corporation (100%)
- Net sales : 7.98 billion yen (FY2022/3)
- Number of employees : 140 (as of March 2022)
- Business : Manufacture and sale of agricultural films and sale of agricultural / facility materials such as irrigation materials and covering materials
2. Overview of the transferee
- Company name : Sumikasekisui Film Co., Ltd.
- Location : 5-9 Akihabara, Taito-ku, Tokyo
- Capital : 5.5 billion yen
- Shareholders : Sumitomo Chemical Co., Ltd. (45%), Sekisui Chemical Co., Ltd. (35%), Watanabe Pipe Co., Ltd. (20%)
- Net sales : 20.12 billion yen (FY2022/3)
- Number of employees : 529 (as of March 2022)
- Business : Development, manufacture, and sale of polyolefin films and related products
3. Purpose of the share transfer
Based on our management policy of “Forging the future,” the MCG Group is promoting portfolio management with a focus on market growth potential, competitiveness, and sustainability, targeting focus markets in light of major global trends.
Demand from agribusiness for the film compounding and coating technologies that MCAD has cultivated is expected to grow to a certain extent in the future. For that reason, we decided to transfer our shares of MCAD based on our belief that it is best to continue to develop and grow its business under the leadership of the best owner.
