Sanyo Chemical Industries Ltd. and Toyota Tsusho Corp. completed the acquisition of an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation.
As of March 29, 2013, Board of Directors' of Mitsubishi Chemical resolved to transfer 10% stake to Sanyo Chemical Industries Ltd. and 30% stake to Toyota Tsusho Corp. The acquisition of an additional 10% stake by Sanyo Chemical Industries Ltd. has been completed on March 29, 2013 and the acquisition of 30% stake by Toyota Tsusho Corp. is subject to approval of competition authorities in and outside Japan. Due to the share transfer, Mitsubishi Chemical Corporation expects recordings of extraordinary profits of ¥6.8 billion in financial statements.
Sanyo Chemical Industries Ltd. (TSE:4471) and Toyota Tsusho Corp. (TSE:8015) completed the acquisition of an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation on September 30, 2013. San-Dia Polymers has been renamed SDP Global Co., Ltd.