The shares are scheduled to be transferred on December 25.
Kashima Chemical Co., Ltd. was established in 1968 as a joint venture company by ADEKA Corporation, Asahi Glass Co., Ltd., Mitsubishi Chemical Corporation and Mitsubishi Corporation for the manufacture and sale of epichlorohydrin, allylchloride and other chemicals.
In the light of the dramatic changes in the conditions facing the chemical industry as well as structural reorganizations at the companies investing in Kashima Chemical Co., Ltd., ADEKA Corporation has been working to review its business plans for the future. As a result, the decision has been made to withdraw its investments in Kashima Chemical Co., Ltd. and an agreement reached to transfer all of its shares to Asahi Glass Co., Ltd.
In order to improve the competitiveness of its chemical products business, the ADEKA Group will proactively focus on its business in the area of fine chemicals, which is expected to grow in the future. The effects of this transfer on ADEKA’s financial performance for this fiscal year will be minimal.
Legal Affairs and Publicity Department, Publicity and Administration Group
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