The Mitsubishi Chemical Group to Transfer API Corporation Shares
August 5, 2022
Updated on August 18, 2022
The Mitsubishi Chemical Group (the MCG Group) 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 the MCG Group will transfer all shares of API Corporation to UBE Corporation by December 2022.
1. Overview of API Corporation
2. Overview of the transferee company
3. Purpose of stock transfer
Under its management policy, “Forging the future,” which was announced in December 2021, the MCG Group is promoting the portfolio management with a focus on growth markets where it holds a competitive advantage.
Now the MCG Group 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.
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;
- Major sites Tokyo Office (Hamamatsucho, Minato-ku, Tokyo), Yoshitomi Plant (Yoshitomi-machi, Chikujo-gun, Fukuoka),
- 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, the MCG Group is promoting the portfolio management with a focus on growth markets where it holds a competitive advantage.
Now the MCG Group 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.
