Kureha Corporation completed the acquisition of remaining 49.9% stake in Kureha Battery Materials Japan Co., Ltd. from Innovation Network Corporation of Japan, ITOCHU Corporation and Kuraray Co. Ltd..
January 30, 2016
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Kureha Corporation (TSE:4023) agreed to acquire remaining 49.9% stake in Kureha Battery Materials Japan Co., Ltd. from Innovation Network Corporation of Japan, ITOCHU Corporation (TSE:8001) and Kuraray Co. Ltd. (TSE:3405) on December 2, 2015. Under the terms of the agreement, Kureha Corporation will acquire 20% stake each from ITOCHU Corporation and Kuraray Co. Ltd. and 9.9% stake from Innovation Network Corporation of Japan. Kureha Corporation will assume full ownership of Kureha Battery Materials Japan Co., Ltd. Kureha Battery Materials Japan Co., Ltd.'s LiB materials business will be transferred to Kureha, who will assume manufacturing and sales of CARBOTRON® P, a hard carbon anode material for LiBs, as well as KF Polymer binder material for LiBs from April 1, 2016. Kureha Battery Materials Japan Co., Ltd. will be dissolved after the business transfer. Kureha Battery Materials Japan Co., Ltd. recorded ¥6.1 billion of net sales for the year ended March 31, 2015.
All former full-time employees of Kureha Battery Materials Japan Co., Ltd., except for those being repatriated by Kureha, Itochu and Kuraray, will be employed by Kureha Battery Materials Japan Co., Ltd., if they so desire. Kureha Corporation will acquire stakes from ITOCHU Corporation (TSE:8001) and Kuraray Co. Ltd. by December 31, 2015 and Kureha Corporation is expected to acquire stakes from Innovation Network Corporation of Japan by end of January 2016.
As of December 22, 2015, Kureha Corporation completed the acquisition of 40% stake in Kureha Battery Materials Japan Co., Ltd. from ITOCHU Corporation (TSE:8001) and Kuraray Co. Ltd. (TSE:3405).
Kureha Corporation (TSE:4023) completed the acquisition of remaining 49.9% stake in Kureha Battery Materials Japan Co., Ltd. from Innovation Network Corporation of Japan, ITOCHU Corporation (TSE:8001) and Kuraray Co. Ltd. (TSE:3405) in January 2016. Innovation Network Corporation of Japan assigned all its shares in Kureha Battery Materials Japan Co., Ltd. to Kureha Corporation.
KUREHA CORPORATION is a Japan-based company that mainly offers functional, chemical and resin products. The Company operates in five business segments. The Functional Products segment manufactures and sells functional resins and carbon products. The Chemical Products segment manufactures and sells pharmaceuticals, agricultural chemicals, inorganic chemicals, and organic chemicals. The Resin Products segment manufactures and sells food packaging materials and household products. The Construction-Related segment engages in construction contract for civil engineering and construction work, construction work supervision and repair work supervision for industrial facilities. The Others segment engages in transportation and warehousing business, sales, rental and management of real estate, industrial waste treatment and sales of environment-related treatment equipment, operation of hospitals and nursing care facilities for the elderly, as well as others.
Kureha Corporation completed the acquisition of remaining 49.9% stake in Kureha Battery Materials Japan Co., Ltd. from Innovation Network Corporation of Japan, ITOCHU Corporation and Kuraray Co. Ltd..