Mitsubishi Chemical Group to Transfer API Corporation Shares

August 5, 2022

Updated on August 5, 2022

 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.