The Mitsubishi Chemical Group (MCG) hereby announces that it has signed a definitive agreement for a stock transfer with UBE Corporation (Head Office: Ube-shi, Yamaguchi; President and Representative Director: Masato Izumihara). Under the terms of this agreement MCG will transfer all shares of API Corporation to UBE Corporation by December 2022.
1. Overview of API Corporation
Company name: API Corporation
Establishment: October 2002
Head office: 955, Oaza-Koiwai, Yoshitomi-machi, Chikujo-gun, Fukuoka 871-0801, Japan
Representative: Hideki Kitadai, President and CEO
Paid-in capital: 4.0 billion yen
Shareholder Life Science Institute, Inc. (100%)
Scope of business Contract manufacturing of active pharmaceutical ingredients, intermediates and investigational medical products;
Contract research and development; Manufacturing and Sales of fine chemicals
Major sites: Tokyo Office (Hamamatsucho, Minato-ku, Tokyo), Yoshitomi Plant (Yoshitomi-machi, Chikujo-gun, Fukuoka),
Kurosaki Plant (Yahatanishi-ku, Kitakyushu-shi, Fukuoka), and MAPIC Europe NV (Brussels, Kingdom of Belgium)
Number of employees: 399 (as of May 2, 2022)
2. Overview of the transferee company
Company name: UBE Corporation
Head office: 1978-96 Kogushi, Ube-shi, Yamaguchi 755-8633, Japan
Representative: Masato Izumihara, President and Representative Director
Paid-in capital: 58.4 billion yen
Scope of business Manufacturing and sales of chemicals, machinery and others
Number of employees: 9,849 (consolidated; as of March 2022)
3. Purpose of stock transfer
Under its management policy, 'Forging the future,' which was announced in December 2021, MCG is promoting the portfolio management with a focus on growth markets where it holds a competitive advantage.
Now MCG has decided to transfer all shares of API Corporation on the basis that this is the best way forward to enable the company to continue to demonstrate its strength in process development and quality assurance under the most suitable owner in order to grow its business.
Contact:
Corporate Communications Div.
TEL: +81-(0)3-6748-7120