Mitsubishi chemical plans to spin off petrochemical business by 2028

May 25, 2026 – Mitsubishi Chemical Group (MCG) announced that its consolidated subsidiary, Mitsubishi Chemical Corporation, has begun considering spinning off its base chemicals business, which is primarily focused on petrochemical products, into a wholly owned subsidiary. This move aims to prepare for future industry mergers and restructuring, in order to rebuild the business foundation for next-generation petrochemical operations.

1. Background and Objectives

In the “KAITEKI Vision 35” released in November 2024, Mitsubishi Chemical Group established the goal of becoming a “Green Specialty Chemicals Company” dedicated to solving social issues. Upholding this vision, Mitsubishi Chemical Group is committed to building a stable supply platform for green chemicals—one of its key focus areas—with the aim of leading the global chemical industry’s transition towards decarbonization and a circular economy.

Mitsubishi Chemical Group, when considering the spin-off of its business, is focused on future mergers and acquisitions and industry restructuring, striving to further enhance the competitiveness of its petrochemical business, strengthen the domestic supply chain, and build a system that contributes to Japan's economic security while responsibly and sustainably advancing these initiatives. Additionally, the company will lead the Japanese chemical industry toward decarbonization and a circular economy.

2. Overview of Mitsubishi Chemical Corporation

3. Split Summary — Translate the above content into English and output the translation directly, with no explanation.

(1) Vision of the New Company After the Spin-off

As a leading petrochemical company in Japan, Mitsubishi Chemical Corporation is committed to enhancing its business competitiveness through mergers, acquisitions, and industry restructuring, while leading the chemical industry’s transition toward decarbonization and a circular economy. In addition, the company will provide a stable and sustainable supply of basic industrial chemicals, strive to maintain the domestic supply chain, and contribute to Japan’s economic security.

(2) Scope of Split Consideration

The spin-off discussions will primarily focus on the basic chemicals business within the company's basic materials segment. However, the scope of consideration may be adjusted during the process.

Outlook

Specific details will be finalized in accordance with the plan before the end of the fiscal year ending March 31, 2028, to complete the spin-off.