Mitsubishi Chemical Group Explained

Mitsubishi Chemical Group Corporation
Image Caption:Headquarters in Marunouchi, Chiyoda, Tokyo
Native Name:三菱ケミカルグループ株式会社
Native Name Lang:ja
Romanized Name:Mitsubishi Kemikaru Guruupu Kabushiki-gaisha
Type:Public (K.K)
Predecessor:Mitsubishi Chemical Corporation
Mitsubishi Pharma Corporation (currently Mitsubishi Tanabe Pharma Corporation)
Location City:Tokyo
Location Country:Japan
Key People:Jean-Marc Gilson, President and CEO
Industry:Chemical
Revenue: ¥2,515,076 million (March 2010) [1]
Operating Income: ¥66,342 million (March 2010)
Net Income: ¥12,833 million (March 2010)
Assets:¥3,355,097 million (March 2010)
Num Employees:54,111 [2]
Subsid:Mitsubishi Chemical Corporation
Mitsubishi Tanabe Pharma
Mitsubishi Plastics
Mitsubishi Rayon
Mitsubishi Kagaku Media
Taiyo Nippon Sanso Corporation (大陽日酸)

is a Japanese company formed in October 2005 from the merger of Mitsubishi Chemical Corporation and Mitsubishi Pharma Corporation. The company is based in Tokyo and is one of the core Mitsubishi companies.

History

On December 4, 2021, the company announced they would be leaving the commodity chemical businesses by the 2023 fiscal year. The petrochemical and coal-chemical units accounted for $4.8 billion a year in sales and they said the reason for divesting is Japan's shift toward carbon neutrality and poor growth potential.[3]

Notes and References

  1. Web site: Mitsubishi Chemical Holdings Corporation Condensed Consolidated Financial Information for the Year Ended March 31, 2010 . Mitsubishi Chemical Holdings . 13 May 2010 . 24 December 2010.
  2. Web site: Mitsubishi Chemical Holdings Corp. (Public, TYO:4188) . Google, Inc. . 24 December 2010.
  3. News: Tullo . Alexander H. . Mitsubishi to exit petrochemical business . . 2021-12-04 . 2021-12-04 .