TOKYO, March 10 (Reuters) - Japanese chemical company Mitsui Chemicals has started to cut ethylene production in Japan amid the Iran war, which has reduced the company's feedstock supply because the Strait of Hormuz is blocked, the company said on Tuesday.
* Mitsui Chemicals started to cut production from this weekat its facilities in Osaka and in Ichihara in Chiba, north ofTokyo, due to an expected drop in naphtha supplies from theMiddle East. * Sumitomo Chemical Asia said it issued a force majeurenotice this week for methyl methacrylate production after itsfeedstocks supplier, Singapore petrochemical firm PCS declaredforce majeure on shipments, as the Middle East war has disruptedmaritime transportation and supply chains. * Mitsubishi Chemical on Monday started to cut ethyleneproduction at its plant in Ibaraki, north of Tokyo, the companysaid. * Japan relies on the Middle East for around 95% of its oilsupply and may consider using emergency oil stockpiles, one ofthe world's largest, in coordination with other G7 nations, tosoften the Iran's war supply disruption impact to the markets. * Taiwan's Formosa Petrochemical Corp (FPCC) also issued aforce majeure notice on some petrochemical supplies, includingethylene and propylene.
(Reporting by Kentaro Okasaka and Katya Golubkova; Editing by Sonali Paul)
Mitsui Chemicals Inc is engaged in life and healthcare solutions, mobility solutions, information and communication technology (ICT) solutions, and basic and green materials business. The Company operates in four business segments. Life and Healthcare Solutions segment manufactures and sells vision materials, nonwoven fabrics, oral care materials, personal care materials and agricultural chemicals. The Mobility Solutions segment manufactures and sells elastomers, functional compounds and polypropylene compounds, and supports the development of new products for industrial products. The ICT Solutions segment manufactures and sells semiconductor and electronic component process materials, optical materials, lithium-ion battery materials, next-generation battery materials and others. The Basic and Green Materials segment manufactures and sells ethylene, propylene, polyethylene, polypropylene, catalysts, phenols, high-purity terephthalic acid, polyethylene terephthalate resin and others.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
