TOKYO, Feb. 21, 2022—Mitsubishi Chemical Corporation (MCC) has announced that it will transfer all MCC shares in Lucite International Japan Co., Ltd. (LIJ) to Midorikawa Chemical Industry Co., Ltd. scheduled for April 1, 2022.

LIJ was established in 1993 as an acrylic composite production and sales base in Japan. The company operates 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, LIJ has been operating as a group company of MCC. However, MCC has now made the decision to transfer all of its shares in LIJ to Midorikawa as part of portfolio reforms based on Mitsubishi Chemical Holdings Group’s management policy, “Forging the future.”

About LIJ

Company name: Lucite International Japan Ltd.

Business activities: Production and sales of acrylic composite material

Head Office:  1-1-1 Marunouchi, Chiyoda-ku, Tokyo

Production Site:  Namegata City, Ibaraki Prefecture

Established: 1993

Representative: Hiroshi Nakayama, Representative Director

Capital: 400 million yen

About Midorikawa

Company name: Midorikawa Chemical Industry Co., Ltd.

Business activities: Sales and application development of processed plastic products, molding materials and machinery/tools

Head Office: 1-4-18 Komagata, Taito-ku, Tokyo

Established: 1953

Representative: Tadao Midorikawa, Representative Director

Capital: 100 million yen