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March 9, 2016 Mitsubishi Chemical Holdings Corporation

Asahi Kasei Corporation


Top Executives Named for Newly Formed Asahi Kasei Mitsubishi Chemical Ethylene Corporation


Mitsubishi Chemical Holdings Corporation (Head office: Chiyoda-ku, Tokyo; President: Hitoshi Ochi) and its wholly owned subsidiary Mitsubishi Chemical Corporation (Head office: Chiyoda-ku, Tokyo; President: Hiroaki Ishizuka), and Asahi Kasei Corporation (Head office: Chiyoda-ku, Tokyo; President: Toshio Asano) and its wholly owned subsidiary Asahi Kasei Chemicals Corporation (Head office: Chiyoda-ku, Tokyo: Yuji Kobayashi) today announced the appointment of the following representatives of Asahi Kasei Mitsubishi Chemical Ethylene Corporation, which was announced in the press release titled "Establishment of a Joint Venture for Operation of Unified Naphtha Cracker in Mizushima" on May 28, 2015.

In addition, necessary regulatory approvals for the company's establishment have been obtained, and operations will start on April 1, 2016.


Managerial position

Current position

Name

President & Representative Director

General Manager,

Basic Chemicals Division,

Asahi Kasei Chemicals Corporation

Makoto Sakamoto

Vice President & Representative Director

Assistant to Chief Operation Officer, Basic Petrochemicals Division, Mitsubishi Chemical Corporation

Hiroaki Numata

Asahi Kasei Mitsubishi Chemical Ethylene Corporation Top Executives (Effective April 1, 2016)


Note: Both Sakamoto and Numata will be concurrently appointed as Representatives of Nishi Nippon Ethylene LLP as of the same date.


Reference: Company Outline

Start of operation

April 1, 2016

Head office

Uchisaiwai-cho, Chiyoda-ku, Tokyo

Paid-in capital

¥2 billion

(Shareholding ratio: Mitsubishi Chemical 50%, Asahi Kasei Chemicals 50%)

Sales

Approximately ¥140 billion

Business line

Manufacture of basic petrochemicals for sale to its parent companies; procurement of feedstocks


For further information, please contact: Public Relations and Investor Relations Office

Mitsubishi Chemical Holdings Corporation Tel: [+81] (0)3-6748-7140


Corporate Communications Asahi Kasei Corporation Tel: [+81] (0)3-3296-3008

Mitsubishi Chemical Holdings Corporation issued this content on 09 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 March 2016 02:03:19 UTC

Original Document: http://www.mitsubishichem-hd.co.jp/english/news_release/pdf/00349/00406.pdf